On August 1, 2013 the new child support guidelines went into effect. There is a formula in place that calculates child support using the parties’ gross incomes.
On September 15, 2017 (amended June 15, 2018) new child support guidelines went into effect. The guidelines apply to the first $250,000.00 of combined income of the parents. Where combined income is above $250,000.00 the Court can consider the support order on the first $250,000.00 of income and adjust support upwards depending on the needs of the children. The guidelines also consider the cost of child care, medical, dental and vision insurance.
Lastly, child support can also be affected by the amount of time the child spends in each parent’s home or if extraordinary travel expenses will be incurred for visitation.
When meeting with our firm it is helpful to bring with you the last couple years of tax returns along with recent pay stubs for the parties. Our goal is to work with you and if necessary an accountant to help maximize the available dollars for the benefit of the children.
The child support guidelines now include calculations for children above 18 and provide guidance on contribution to college.
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