SERVING SOUTHERN CALIFORNIA’S HIGH-ASSET DIVORCE NEEDS

Ensuring your children’s financial needs after the divorce

On Behalf of | Jun 17, 2022 | Uncategorized

Divorce is never easy, but it can be especially difficult when you have children. You are concerned about ensuring that your children’s financial needs are taken care of after the divorce so they can continue living the lifestyle they are accustomed to

Can you and your children maintain the same standard of living after a divorce? 

How California determines child support

Along with the emotional impact a divorce has on children, there is also the worry about the economic effects. For many parents, the thought of their children having to struggle financially is one of the most stressful aspects of divorce. 

However, it is important to remember that the standard of living after a divorce is not necessarily lower than it was during the marriage. In fact, in many cases, both parents can maintain a similar lifestyle for their children after divorce through child support payments. 

In California, child support is generally decided based on the income of both parents and the amount of time each parent spends with the child. There are other costs factored in, such as:

  • The child’s age
  • Who is claiming the child on income tax returns
  • Health insurance
  • Mortgages
  • Any extraordinary income by one or both parents

So, if one parent is a high-income earner and the children are used to a higher standard of living, then the judge will likely require that parent to pay more in support.

If you are worried about your children’s financial future, you will want to discuss your issues with someone who can guide you through determining child support so your children are taken care of now and in the future.