If you are recently divorced or considering a separation or divorce, you may be concerned with how to manage your emotions, your children's emotions and your finances. While child support is intended to help ease the financial burden on the parent who provides most of the child's necessities, such as housing, food and electricity, there are many areas in which child support cannot be used. It is important to understand the expenses for which child support can and cannot be used so that you can properly budget and plan accordingly for life on your own. Please note that child support does not typically cover the following.
Many parents who make child support payments are uninformed when it comes to the criteria for obtaining adjustments. If your income varies or your circumstances change, though, you may be eligible to petition for a modification. There is no better time to revisit this issue than when you are reviewing your W2 and preparing to file your taxes. If you choose to apply for a modification, your W2 can be helpful in supporting your case. One of the following criteria may qualify you for an adjustment.
Noncustodial parents frequently fail to realize that not all court-ordered child support designations are set in stone. Laws exist to help parents transition through changes in circumstances. If you're feeling the pinch of paying more in child support than your budget can reasonably handle, it may be time to have the situation reevaluated.