There are many financial aspects to a divorce, but the top priority for courts is child support. It is essential to maintain a quality of life for the children in a situation, and child support helps to meet that goal.
While every situation is different, there are a few guidelines that apply to every situation. You want to be aware of these points whether you pay or receive support.
Forbes explains there are no taxes on child support. You will not include it as income if you receive it, and you will not include it as an expense if you pay it. Unlike child custody, which can impact your taxes, child support will not affect it so you do not need to plan ahead for tax time.
You always have the right to request a modification of your child support order. While you may have a limit on when you can do this or how often, if you have a significant change in circumstances, you can usually get a hearing to seek changes. This is an important aspect of child support because it considers how families change over time. Your children’s needs will not always be the exact same as they were at the time of the original order, so the law allows you to adjust support to reflect these changes.
Child support will always take priority over spousal support. The court will determine child support first, and if there is no money left for spousal support, then it will not award it. The court will never take away from child support to provide spousal support.