A third party (such as a grandparent) has custody of the child. How can I calculate the child support that each of the two parents owes to the third party?
We are not aware of any state in which there is a formula for this. One approach would be the following: 1. Enter the parent parties’ incomes and the children. 2. Set custody with the first party, with the actual # of overnights that the 2nd party has assigned to 2nd party. 3. This would […]
How can I show reductions of child support?
When the oldest child reaches the age of majority, he or she typically is no longer eligible for child support. Younger children will continue to be eligible. The total child support amount will "step down" from the initial amount. Family Law Software automatically calculates these step downs. You will see a link to show the […]
How can I show children’s assets (including 529 Plans) being used for college?
Suppose you have a pool of assets that you have designated as children’s assets. They may be in a 529 Plan, or not. You can enter them as either”Cash and Investment” assets, or as “IRA/401k” assets. The advantage of entering it as an IRA/401k is that you can enter annual contributions, and the software will […]