Generally, child support is calculated as a percentage of the non-custodial parent’s income.
Among high earning families, or families where one parent earns the lion’s share of income, the court has discretion in how it calculates the child’s needs.
For instance, in a situation where a non-custodial parent earns about $50,000 a year, as does the custodial parent, child support is based on an expectation of 17% of the non-custodial parent’s income for a single child, or $8500 a year, spread out over 12 months.
This money is used for food, clothing, educational expenses, and whatever other costs are associated with raising the child.
But say that instead of $50,000, the non-custodial parent earns $250,000 a year.
As a flat percentage of income, the courts would be ordering the parent to fork over more than $40,000 in child support.
In those cases, the courts believe it is wiser to drill down and look at what it costs to raise your child, then base support on that.
The attorneys at Friedman & Ranzenhofer can help you achieve a fair child support agreement that protects you and gives your child the best future possible.
Call us today at 585-484-7432 to learn how we can help.