Who Pays Child Support When You Have 50-50 Child Custody?
Having 50-50 custody is a great way to maintain your child’s standard of living, but it does not mean that you are exempt from paying child support. Whether or not you pay support depends on your state’s laws. You may also have to pay support if you have custody of a child with special needs. In Missouri, for example, you are required to pay child support if you have 50-50 custody of your child.
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The court will calculate the appropriate amount of child support based on each parent’s income and other expenses. You will need to pay attention to the custodial schedule to see how much money you will need to pay. The court will also consider your work-related expenses. A parent who is able to run a household without a lot of assistance may be eligible for a lower amount of child support.
The simplest way to calculate your child support obligation is to take each parent’s income and subtract the taxes that are only deducted from that income. Then, calculate the difference between the two. The difference can be either a set amount, a percentage of each parent’s income, or a fixed percentage of each parent’s net income.
The court will use a mathematical formula to determine the amount of child support. The formula will be different in each jurisdiction. This formula will consider your net income, the amount of time your child spends with each parent, and other work related expenses. The court will also take into account your health insurance premiums. A parent who has 50/50 custody will probably not have to pay a lot of money in child support.
In the same vein, the court may also order the higher-earning parent to pay the lower-earning parent a certain amount of child support. This may be a good idea if your higher-earning spouse is very tight with money. In some jurisdictions, the child support obligation may be reduced if the higher-earning spouse can run the household on their own.
The court may also order the higher earning parent to make a smaller child support payment. A higher earning spouse may also be able to pay more for things such as a large home and other child related expenses. If the parents are unable to agree on a financial solution, they may want to consider mediation. Mediation can be an effective way to resolve their differences without a courtroom battle.
One should not be confused by the fact that there are two sets of rules. Some jurisdictions require a formula for child support while others only require that the payer use the income share formula. If your case is in Texas, the Texas Family Code sets guidelines for child support. You may also want to consider a legal counsel to help you with your case. If you are involved in a 50/50 custody case, it is best to discuss the possibility of getting child support in your mediation or legal proceedings.