|
|
|
|
|
|
|
In some states, a ceiling is placed on the income used to calculate child support, such as a combined parental income of $80,000. All income above $80,000 might be subject to a different percentage from the first $80,000 of income. Or, a cap might be put on the amount of income above the $80,000 for the purposes of calculating child support. Most states have developed a statutory formula that is used to calculate child support. |
|
|
|
|
|
|
|
|
Although there are hardship provisions, judges are usually reluctant to lower the percentage unless the reason is very strong. |
|
|
|
|
|
|
|
|
George was paying the mortgage on the marital residence to keep it from foreclosure. His wife, Margaret, and son, Ben, lived there while he lived in a boarding house. He asked the judge to lower his child support payment because his income was too low to pay the mortgage and the court-ordered child support. The judge refused his request, and the family had to sell their home at a loss. |
|
|
|
|
|
|
|
|
Had George and Margaret been able to negotiate the child support during this time of decreased income for George, they might have been able to keep the house until they could sell it at market value. |
|
|
|
|
|
|
|
|
If you and your spouse believe you can reach a settlement, how do you know what's in your best interest but also fair to both of you? |
|
|
|
|
|
