After a divorce, tensions with the divorced couple can run high. However, no matter their issues, they may still want the best interests of their children. In Maplewood, kids of divorced parents can get financial support from them. A percentage of gross income determines the support amount. If both parents share placement for their kids, calculating this amount can be a bit more complicated. Providers of child support services ensure the correct calculation of child support, which should be fair to both parents and the kids.
Calculating Child Support
Wisconsin courts set a formula to calculate child support. if one parent is awarded primary placement, the number of minor kids and the gross income of the nonplacement parent are considered in calculating child support. For instance, if you and your spouse have one minor child, the payor must pay 17 percent of the gross income as child support. A high-income payor can request a reduction of this amount.
If both parents share placement, child support is calculated based on how many kids they share, how many overnights in the visitation schedule, and every parent’s income or earning capacity. In case of an equal placement schedule, earnings or earning capacities, child support won’t be ordered. If both parents have equal placement schedules, but one of them earns more, child support may be owed. If parents in shared placement cases seek a reduction in child support, they should pay a percentage of the reasonable expenses of their child beyond their basic support needs.
What If One Parent is Self-Employed?
In some instances, experts are hired to determine income when calculating child support in divorce cases. If your spouse has a business or different income sources, it can be hard to calculate or determine their income. Experts like forensic accountants, business specialists, or vocational experts may be needed to identify this income. In such cases, it’s important to examine tax returns, spending history, and bank statements to determine income available for child support.
If One Parent is Unemployed
Family judges may determine that a non-employed parent doesn’t earn enough and should work more. Thus, a divorce attorney may need testimony from experts to determine this parent’s earning capacity as they calculate child support. In this case, imputing income may be necessary to calculate child support, particularly if the parents share placement. A vocational expert can get a family judge to impute income to the parent who does not have a job.