The process of divorcing is a difficult experience. If there are children involved, then working through an agreement may be even more challenging. Colorado families who are concerned about how their children are provided for may have many questions regarding the issue of child support. There are three main points to keep in mind regarding these payments.
Family courts have found that a shared custody agreement is often in the best interest of the child. Regardless of the fact that parents to agree to share the responsibility of raising their child, it is typical for the courts to order that support be paid by the parent who has less physical time with his or her child to help alleviate the financial pressure on the primary parent. While each state has its own support guidelines, parents do have the right to request modifications to these orders if circumstances change.
In many situations, a court may order that the parent with the financial advantages also provide some type of spousal support as well. The amount paid will vary according to each unique circumstances, but it it helpful to remember that child support will take precedence over any alimony payments. If a parent requests a change in the amount of child support, it is likely that spousal support will also be modified.
Lastly, child support payments do not provide any significant tax advantages. The parent who receives these payments does not report the payment as taxable income, and the paying parent cannot deduct that amounts from his or her income. It may be possible to alternate which parent claims a tax exemption for a child, and a professional adviser can provide additional information as to whether this is possible in a particular family. Colorado parents who are going through the divorce process can seek the guidance of an attorney who can help arrive at the solutions that will best meet their family’s needs.