As A High Earner, Can I Be Awarded Child Support?
If you are a high earner, meaning you bring home a hefty income, you may believe you will not be able to access child support during the divorce process. But it is a common misconception among Florida high earners that they cannot be awarded child support. In reality, each situation has its own details to review.
While many associate child support with lower-income families, there are situations in which high earners receive child support. To have all of the various factors of your marital finances assessed and learn what types of divorce terms, including support payments, are possible, talk to a veteran Port St. Lucie family law attorney.
Child Support Payment Formulas and Standard of Living
In Florida and in many states, there is a specific formula used to assess the possibility of child support. The formula takes into account both parents’ income, the number of children, and other expenses related to the child’s upbringing. This formula determines if support from the non-custodial parent to the custodial parent is necessary and what financial figure is appropriate.
There also may be particular child needs as well, such as special medical care or educational expenses. In these situations, a higher earner may need payments in order to attend to pay for all expected and necessary support systems.
Negotiating to the Agreement You Need
Once you share your budget and objectives with a Port St. Lucie family law attorney, they can guide you toward the resolution you are seeking. This often involves negotiating with the other parent and their attorney in order to reach a fair and reasonable agreement. A well-crafted agreement takes into account all of the marital finances and could include support payments moving forward, either through child support payments or spousal maintenance payments.
Having an experienced family lawyer guide you through the divorce process can reduce your stress levels and connect you with the terms you need to build the life you want. And as a high earner, you do not have to dismiss the topic of child support. If you will be the custodial parent, all factors need to be reviewed, including your income, your spouse’s income, marital assets, liabilities, and your child’s needs.
Do you have questions about what your household budget will look like post-divorce? Whether you are a high earning parent or not, it is important you protect your rights and your financial future. When you meet with the legal team at Baginski, Brandt & Brandt, experts will compassionately listen to your goals and inform you of possible paths forward. Contact us today to book your fee-free consultation.