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What if your children spend equal amounts of time with each of you? Usually, each of you will be responsible for those expenses incurred while the child is with you. However, you still have to work out how to pay for other costs, such as clothing (there's no point in having two entire wardrobes) or education. If your incomes are about the same, those expenses can be split. If there is a disparity in your incomes, the expenses can be divided according to the percent of the total each one earns. |
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For example, if your combined income is $100,000, and you earn $40,000 while your former spouse earns $60,000, the $1,000 tuition payment would be split 40/60. |
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Obviously, this kind of expense sharing takes a lot of goodwill and planning, but so does negotiating an arrangement whereby the children spend equal amounts of time with each of you. If you can't work it out and a judge has to decide this issue, it is unlikely he or she will agree to a 50/50 living arrangement for the children, nor will the judge allow you to decide how the expenses should be divided. |
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Every state has its own formula for deriving child support. Each state also has exceptions to the formula and exceptions to the exceptions, so it is critical to check the law of your state before you make a deal. |
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Usually, the formulas are based on the ratio of the parties' incomes, though the definition of income varies by state. Income can be defined in the very broadest wayto include not only wages, but also assets like stocks or a pension or regular, annual gifts from family membersor it can be defined in a narrow way, limited only to earned income. |
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The law usually provides for deductions to be taken from the income, and those deductions vary from state to state, too. Federal, state, and local taxes and payments already being made on behalf of other children from prior relationships are among the common deductions. |
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A percentage of your share of what's left then becomes your annual child support obligation. Different states use different percentages, and the percentage usually increases depending on the number of children you have. |
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