Wick & Trautwein, LLC
Call Today
Local: 970-237-5694
Toll Free: 866-686-1410

Child support a major factor in divorce financial decisions

During a divorce, both parties are faced with the task of separating their financial lives. When a child is involved, parents typically try to disturb the child's lifestyle as little as possible. This can be difficult financially, because funds that once supported a single household must now go toward two. Colorado family courts are filled with battling parents attempting to minimize their financial responsibilities related to child support. Good results can come from thoughtful negotiation regarding child support, helping ensure the best circumstances for all parties involved, especially the children.

Colorado has guidelines for judges to determine a starting point for the amount of child support a noncustodial parent must pay. However, the amount determined by the judge can vary greatly from this baseline. Variations can be based on a number of factors that include school, medical needs, travel costs, or the cost of housing. To avoid having a judge set the amount, negotiations based on the cost of raising any children from the marriage can help determine realistic payment amounts both parties are comfortable with.

According to a personal financial specialist, the best way to determine the costs of child rearing is to look at the last 12 months of spending related to the child. The expenses should be separated into categories, with shared family costs such as groceries applied according to the percentage of the total cost that went directly toward the child.

Once expenses are calculated, parents can make a realistic budget of the costs and determine if there is enough income after creating two households to keep up the child's present standard of living. With a budget in place, negotiating the split of the costs is made easier.

Negotiating child support is often preferable to having the matter settled in court. The amount decided upon by the judge is highly subjective and might not take into account all the child's expenses. However, through an ongoing negotiation process, the best interests of the child can be paramount without driving either parent into poverty.

Source: Fox Business, "Managing Finances Through a Divorce," Andrea Murad, Sept. 28, 2012

No Comments

Leave a comment
Comment Information
  • Lead Counsel Rated | LC
  • BBB | Accredited Business
  • 10 Best 2017 Attorney | Client Satisfaction | American Institute Of Family Law Attorneys
  • Preeminent AV | LexisNexis Martindale-Hubbell | PeerReviewRated
  • Best's Client Recommended Insurance Attorneys Listed Over 25 Year
  • Expertise Best car accident Attorneys in fort collins 2018

Fort Collins Office
323 South College Avenue #3
Fort Collins, CO 80524

Toll Free: 866-686-1410
Phone: 970-237-5694
Fax: 970-482-8929
Fort Collins Law Office Map

Estes Park Office
513 Big Thompson Ave
Estes Park, CO 80517

Phone: 970-586-3505
Fax: 970-586-3269
Estes Park Law Office Map

Windsor Office
421 Main Street
Windsor, CO 80535

Toll Free: 866-686-1410
Map & Directions

Review Us
Providing You With The Information You Need To
Make The Right Choices For Your Future

We Take Your Emails Seriously

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy