Has your marriage ended, and have you reached an agreement with your divorce lawyers on the amount of child support you will be paying? There are several things you should know about child support. These things include:
The amount isn’t set in stone
You might argue that the amount you agree to in court will remain like that until the child attains adult age, but this isn’t the case. The amount you pay can increase or decrease depending on your situation.
For example, when your business fails to be as profitable as it used to be or you are demoted at work, you can go to court with your attorney and have the amount reduced. Remember that you have to bring proof of your income decreasing. This can be a demotion letter or your bank statements.
The same way that child support can decrease is the same way that it can increase. Obviously, this will happen when your income grows.
In most cases, the custodial parent gets wind that you are doing well financially, and they go to court and ask the court to revise the amount upwards.
Like you, the parent needs to show proof that your income has significantly risen from the time that the order was given.
Having another child can decrease the amount you pay
When the court determines the amount of money you will pay for child support, it considers the number of children you care for. As it goes, the more children, the less you will pay for each.
This means that if you feel you are paying high child support for one child, you can get another, then go to court and ask for a reduction.
As much as this will make the court order a reduction, the additional child you will get will be an additional responsibility, and it’s up to you to find out whether having another child is worth it.
You can reduce your child support by getting more involved
In many jurisdictions, the court will consider the amount of time you spend with your child when determining the child support amount. The more time you spend with the child, the less you will have to pay.
This means that to reduce the amount of money you pay for child support, you should increase the amount of time you spend with your child. For example, if you see them once a month, bump it up to once a week.
For the new payments to get into effect, go to court and show your increased involvement. As you make your case, remember to carry the receipts of the food you bought, clothing, and other necessities.
When you do this, you should know that you are not only spending more money on your child, but you are showing more interest in them which comes in handy not only in you becoming a better parent but saving you more money.
You might pay child support for much longer than expected
Most divorcing parents will agree to pay for child support until the child attains the age of 18. While most children complete their education within the expected time, some don’t—especially those that develop medical conditions or are underperformers and stay in school for much longer than usual.
You should sit down with your ex-spouse and your family lawyers Fairfax VA and agree on what you should do when such a scenario presents itself. Most couples often cut off child support at 18 but decided to split the college education costs once the child leaves home.