When it comes to raising children, parents have a significant financial responsibility to ensure that their child's needs are adequately met. One way to guarantee that finances are properly allocated is through child support. In the state of Colorado, child support is calculated based on the parents' income and the amount of time each parent spends with the child. This article will outline the basics of child support calculations in Colorado, including income considerations, shared custody, and childcare expenses.
Determining Child Support In Colorado
Under Colorado law, both parents have a financial responsibility to support their child. The initial step in determining child support payments is to calculate both parents' gross incomes. Gross income includes wages, salary, bonuses, commissions, and most other sources of income.
A parent paying for daycare or health insurance for the children may receive credits when determining child support. How many overnights each parent spends with their child also is factor that affects a child support calculation.
Contact Our Family Law Attorneys at Knies, Helland & McPherson
Navigating child support calculations can be stressful and overwhelming, particularly for parents going through a divorce or separation. Seeking the advice of a family law attorney is the best way to navigate these complex issues.
A Colorado family law attorney at Knies, Helland & McPherson can help you understand your legal rights and obligations, explain the child support calculation process, and represent your best interests in court.
At Knies, Helland & McPherson, we specialize in guiding our clients through the complexities of child support calculations. Our team of knowledgeable family law attorneys is dedicated to ensuring that your children's best interests are protected.
Contact us today if you require assistance with child support calculations or have any questions regarding family law matters. Our team is ready to provide you with personalized legal solutions that prioritize the well-being of your family. (719) 626-8530