When parents get divorced in Colorado or anywhere else, it is important to consider how the children will be taken care of financially. Generally speaking, the noncustodial parent will make payments to the custodial parent to help with the burden of paying expenses related to raising a child. In some cases, state guidelines will be used to determine how much a custodial parent is entitled to. However, judges are allowed to stray from those guidelines if necessary.
For instance, if a child has special needs, a noncustodial parent may be asked to contribute more to help cover them. It is important to note that a child support order can be modified in the future if necessary. This could occur if a parent sees an increase or decrease in income or if other circumstances make a modification necessary. Parents typically cannot modify an agreement on their own.
This is because spousal support payments will typically go down in the event that child support payments are reduced. In the eyes of the law, spousal support is less important than child support. Although child support payments don’t create any sort of taxable event for either parent, sharing custody of a child could. Therefore, it may be a good idea to work with a financial or other professional to determine how a parenting plan could impact a tax return.
Parents may have many questions about their divorce. Greenwood Village, Colorado child support attorneys may be able to answer those questions and help with other tasks such as developing a parenting plan. In some cases, parents may ask that an attorney review an agreement reached in mediation or represent them during a formal trial. Doing so might help an individual receive a favorable agreement regardless of how it is eventually reached.