When parents get divorced, they will need to address multiple types of financial issues, and child support is an area that will most likely be a significant concern. While parents will want to ensure that their children’s needs will be provided for, they will also need to make sure they will have the financial resources to meet their own needs. By understanding the procedures used to calculate child support payments and working with an attorney who can advocate for their rights and financial interests, parents can make sure this issue will be addressed properly.
Guidelines for Calculating Child Support
The method used to determine an appropriate amount of child support has changed in recent years to address the fact that in most families, both parents work outside the home and earn income used to support themselves and their children. Currently, the guidelines for determining child support provided in Illinois’ laws take the income earned by both parents into account.
To calculate child support, each parent’s monthly net income must first be determined by taking their gross income and subtracting any allowed deductions. Deductions often include taxes, union dues, and child support or spousal support obligations a previous marriage or relationship. The parents’ net incomes are then added together, and this amount is used to determine the proper child support obligation. A table known as a “schedule of basic child support obligations” will provide the amount of support that would be appropriate for the number of children the couple has together....