A child support calculator is a very helpful tool that will calculate what you could possibly be paying in child support in the event of a divorce. Most of them are based on statutory guidelines. The child support calculator is laid out in statute, and is dependent on the income of the spouses. It is an on line tool that can help estimate the amount of payments based on financial obligations, income and number of children to receive support. If the parents’ joint income is more than $10,000 per month, the child support calculator is not used to figure out the amount of child support to be paid.
Child Support Services is the government entity that watches over all cases. They make this service available to anyone who would like a calculation of their potential support amounts, whether or not a case has been filed with the court. Child custody can be the most important and emotional issue which arises when a marriage is failing. Child support guidelines take the income of each of the marital partners in a divorce are accounted for.
The child support owed by either party to the children of previous marriages, the number of children, educational costs, medical expenses, day care expenses, and the basic needs of the child. All of these expenses will contribute to the final amount owed by both the custodial parent and the non-custodial parent. The amount of child support a court will order for any particular case may be different from the amount estimated by the calculator.
When using the calculator you will want to have the following documents handy. You will need your last 30 days worth of pay stubs and last two years of W2s. Some calculators will let you insert living expenses, health insurance costs that are not covered, social security payments, veteran benefits, along with any other pensions you may receive. The court will take all of these into consideration so you might as well be prepared for it.
Most child support cases only make the parent pay until the child reaches the age of 18. If you child decides to go to college you will have to pay until they graduate or are no longer considered a full time student. The calculator will take into consideration what your future earnings will be for this also.
The calculator is there to give you an estimate about what you should expect to pay after completing the divorce proceedings. Each case is unique and every state has different guidelines they can use. They take into consideration your whole financial background to make sure you can cover living expenses for your child. There are a lot of free child support calculators online and can even be narrowed to your individual state.