Regardless of whether they were ever legally married, living together without being married, or even if they never lived together, all parents have an obligation to support their children. This podcast offers a general overview of how child support is supposed to work – including the factors influencing amount and duration of child support payable or receivable, “special” or “extraordinary” expenses that go above and beyond what the child support guideline amounts will cover, and the tax issues of child support.
Host: Tanoya Greaves
Speaker: Diana Shepherd, CDFA®, Editorial Director and Co-Founder of Divorce Magazine
Diana Shepherd is the Editorial Director and co-founder of Divorce Magazine and www.DivorceMagazine.com. She is a Certified Divorce Financial Analyst®, an award-winning editor, published author, and a nationally recognized expert on divorce, finance, remarriage, and stepfamily issues. Diana has written and edited hundreds of articles about divorce-related issues since 1996, and she is a frequent lecturer on the topics of divorce and finance – both to local groups and national organizations.
In this podcast, Diana will explain:
- how child support generally works
- how child support payments are calculated – and when those parents usually end
- whether parents can choose to opt-out of the child support guidelines and set up their own agreement
- the issue of “special expenses” that go above and beyond what the child support guideline amounts will cover
- options for co-parents who don’t agree which “special expenses” are both reasonable and necessary for their children.
Of course, this overview of how child support works is general in nature and may not apply to your unique circumstances. Your situation may call for a major divergence from the child support guidelines, so you must consult a family lawyer before agreeing to pay or receive a set amount of child support.