Child Support Concerns in a Complex Divorce

When a couple divorces, their most pressing concern is often their children. Child custody and child support issues are emotionally charged and complicated. This is especially true in high-net divorce cases or when a couple has considerable income and assets. 

The family law attorneys of Gearing, Rackner & McGrath understand the importance of child support and help you and your family resolve a complex divorce with sensitivity and skill.

How is Child Support Determined?

Child support is generally determined using a standard formula based on different factors. These include:

• Monthly income
• Number of overnight visits the child will spend with each parent
• Childcare costs
• Health insurance costs for child
• Other children (not shared by the divorcing couple) for whom one parent pays child support

Certain situations would necessitate a deviation from the typical child support determination process. Having a high net worth would be one of them, especially when one parent has a much higher income than the other. 

Parents will be allowed to decide and agree upon a child support arrangement if they are able to do so. If not, the courts will get involved to set one. Support is usually paid to the parent who has custody of the child or children, even if it is shared or joint custody. 

High Net Worth Child Support Concerns

In a case where one parent has more resources and income than the other, child support may be based on maintaining the children's lifestyle instead of using a specific formula. Child support in a high net worth divorce will be higher than that ordered in an average income divorce case.

The amount of money one parent has is not the only consideration when determining child support in a high net worth divorce. The safety and wellbeing of the child come first and foremost. The courts want to be sure that the child is provided for and that they will enjoy the same general standard of living to which they are accustomed.