Child support is intended to provide financial support for children’s needs. Thes include food, clothing, shelter, education and medical expenses.
However, not everyone understands how child support is calculated. Let’s look at how Colorado does it.
Several factors may affect the amount of child support
Under Colorado’s child support guidelines, a fair share of each parent’s income and resources should go towards providing for their children. The formula used to calculate the amount of child support is based on what the parents would have spent on the child if they were still together
Some of the other factors that the court will consider when determining the amount of child support include:
- The financial resources of the child (if any) and both parents
- The physical, emotional and educational needs of the child
Generally, calculating child support involves factoring in both parents’ gross income and making the necessary adjustments, such as any pre-existing child support orders, before determining the basic child support obligation and allocating each parent their share.
Child support orders are not permanent
While child support payments are compulsory and enforceable, they are also modifiable. You can petition the court to revise the amount you’re paying or receiving upwards or downwards. However, such changes require evidence of a substantial change in circumstances since the court issued its orders.
Seek the necessary legal assistance
It can be hard to keep up with everything when you are in the middle of a divorce, and understandably so. It can be a particularly stressful situation, especially if children are involved.
Therefore, it helps to have the proper legal guidance to help you understand how everything works and address any of your concerns.