Child support payments are often needed in order for a custodial parent to manage all the expenses of raising a child. These expenses could include housing, food, clothing, and extracurricular activities, for example.
There are Florida statutes in place to be sure children are provided for by their parents. In most instances, a court will determine how much child support is required by following the rules that assess the number of kids and income level of both adults involved. Income is a huge factor in determining support payments, and income can go beyond your wage as an employee. Connect with an experienced Tampa divorce attorney to have your unique questions answered.
If you are moving toward divorce in Florida, you may be wondering how child support payment amounts are calculated. This could be true if you are the parent who will be responsible for making payments or if you are the parent who will be receiving payments. Either way, you will need to know the amount to draft a new personal household budget.
Income Sources You May Not Be Aware Of
Both spouses have to provide documentation of their incomes in order for a fair child support agreement to be drafted and awarded. While earned employment income will be one of the sources analyzed, it won’t be the only one. All sources of income will be factored into a final child support payment decision. Income sources considered include the following.
- Unemployment compensation
- Spousal support or alimony
- Distributions from trusts or estates
- Business income, including real estate
- Income from salary agreements or hourly wages
- Additional payments such as overtime pay, tips, bonuses, or commissions
- Social security or disability benefits
Decreased income that is not the choice of the adult involved will also be taken into account. If you have experienced a layoff or reduction of hours and it was not your choice, a lower amount could be put into place.
A Florida court will still award a child support payment level that is appropriate for a person’s full earning potential if they are intentionally reducing their pay.
Tampa High-Income Divorce Attorney
You may be thinking, “Where can I find a divorce lawyer near me?” Anton Garcia Law’s family law attorneys are compassionate, experienced and dedicated to representing your best interests. Contact us today! Serving the following Florida areas:
- Tampa, St Petersburg
- Land O’ Lakes
- Plant City
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If you are looking for a Tampa family law attorney, look to Anton Garcia Law, a 2021 and 2022 SuperLawyer “Best Attorney” award winner. Our office is located near beautiful downtown Tampa, where we proudly serve clients from around the state of Florida.