A pending divorce may lead to an assortment of complications, including determining child support. The parent who gains the most parenting time has a great amount at stake, wanting to ensure that he or she receives a fair amount of financial support.
In Minnesota, a few factors come into play when determining the amount that will be awarded. They include the income of both parents, the number of shared children, along with how parenting time is divided.
Basic, medical and child care
Child support consists of three categories: basic, medical, and child care.
Basic support includes costs related to the child’s dwelling, food, clothing, education and transportation. Medical support includes medical and dental insurance along with payments related to health care costs. Finally, child care includes payments for costs related to day care when parents are working or in school.
Combined income of the parents
State guidelines determine the level of basic support based on the parents’ combined incomes, the number of children that they have together and the cost of raising children at certain income levels. The general idea is that parents contribute their “parental income for child support” (PICS) toward the basic needs of their children.
The state reviews the incomes of both parents as well as each parent’s percentage of total combined incomes before determining the child support amount. For basic guidelines, consider this child support calculator.
If a parent fails to provide information regarding their full and true income, the court has no choice but to determine child support based on existing evidence. This would include previous work experience as well as statements and verification from the children’s other parent.
Getting a fair financial shake
A divorce may temporarily upend a person’s life. The initial worries include those related to financial matters, including child support. Now, as a single parent, you want to make sure that your children continue to get a fair financial shake in life. Obtaining the right amount of child support will help.