How Child Support is Calculated
Posted at: 06/11/2018 3:31 PM
Updated at: 06/11/2018 3:52 PM
TMZ is reporting that Britney Spears's ex Kevin Federline doesn't think $20,000 a month is good enough for child support for their two kids. Jodi and Shannon from Terzich and Ort stop by to explain how it works in Minnesota.
Minnesota uses a formula to calculate child support. It is called income shares. It means we take into consideration the income of both parents. Not just the payor. We also do not look to new spouses.
In Minnesota, we use a child support calculator. For a link, click here
To calculate the child support you need, a) both parties gross income (income before taxes) b) the cost of medical and dental insurance c) the cost of daycare and c) the parenting time schedule identifying the number of overnights each parent has.
The calculation is what the courts are to use unless there are some extenuating special circumstances. If you do not know where to insert information, the online calculator tries to help you by creating links you can click on.
The child support calculator is an attempt to make it useful for people to use with without the expense of attorneys however before entering into agreements they should always have an attorney double check the numbers to make sure it is done correctly.
The calculator has been recently updated and use of the Calculator may result in different child support number. Effective date is August 1, 2018. People should reach out to a lawyer to make sure their existing child support consistent with the new calulations.