How are Child Support Payments Calculated in a Divorce?

 Posted on April 22, 2022 in Child Support

When couples that have children together decide to file for a divorce, many challenging questions arise regarding how to continue raising and supporting the children. These questions include who will retain the majority of parenting time, where the children will live, how parents will divide custody and visitation time, and which parent will be required to pay child support. Child support is the amount of financial assistance that the parent with less parenting time will pay to the parent with the greater amount of parenting time. These payments are usually a part of a divorced couple's divorce agreement, and they are calculated using the Income Shares Model to ensure both parents' financial situations are being considered. 

Using the Income Shares Method for Child Support Calculation 

The Income Shares Model is a financial tool used to calculate child support payments in a way that is equitable and fair. The court will weigh both spouses' individual incomes and financial responsibilities against each other to determine how much child support to award the parent with the majority of parenting time. 

Parents can understand the Income Shared Method by breaking it into five key steps: 

• Calculating Individual Net Income — The first step is for the court to calculate each parent's individual net income by analyzing financial documents such as income statements, taxes, and financial obligations.
• Calculating Shared Net Income — Then, both individual incomes will be added together to determine a shared net income. This figure shows how much money could have been dedicated to family care needs had the parents chosen to stay together.
• Calculating Percentage Share — To find each parent's share of combined net income, their individual net income is divided by the combined net income.
• Determining the Basic Support Obligation — The Illinois Department of Healthcare and Family Services has a document depicting the typical amount of child support required. Each parent's Basic Support Obligation is determined using a chart to match their net income to their expected childcare contributions. 
• Multiplying Percentage Share and Basic Support Obligation — Lastly, to find the amount of child support owed, a parent's percentage share, as determined previously, will be multiplied by the Basic Support Obligation. The court will use this final figure to hold each parent responsible for child support needs. The parent with less parenting time pays his or her share to the parent with the majority of the parenting time through child support payments. 

Speak to a Naperville Family Attorney 

Suppose you are a parent looking to divorce your spouse in Illinois. In that case, our Naperville Family attorneys can assist you through the divorce process and help you address child support needs. At Law Office of Ronald L. Hendrix, P.C., our lawyers have years of combined experience working alongside Illinois families to assist in divorce and family legal matters. Please reach out to us at 630-355-7776 today to schedule a free consultation with our office. 

Source:

https://www.ilga.gov/legislation/ilcs/documents/075000050k505.htm