For anyone who is a parent, they know that having children is a great joy. However, they also know that children are a great financial responsibility. When parents co-parent from separate households, the financial responsibility still falls on both parents even if the child is residing primarily in one household. Hence, child support can be enforced to determine the financial obligations of both parents.
Child support is the amount given to the main custodial parent from the child’s other parent to help cover the child’s living expenses. Child support is calculated based on a variety of factors, including a parent’s income, the financial needs of the child and their standard of living. It’s possible that the court may determine a parent’s income in terms of their potential for earnings rather than their actual earnings.
The amount of child support one parent pays to the other is predetermined to ensure that the child’s needs are met. These guidelines also set expectations for both parents in terms of what they need to supply or what they can anticipate accepting. It’s also for tax purposes, so that the amounts paid or received can be accurately recorded by both parties. Again, it’s really to ensure that the child is receiving all the support they need.
It goes without saying that this process can bring some stress for the parents. There may be differences between the parents regarding the topic of child support. Either way, a calculation will happen by the court to determine the specific amount of child support to be paid or received.