Whether you’re the parent who pays or
receives child support, you may be dissatisfied with the amount. The
good news is it can be recalculated for these reasons:
1.Employment Loss
When you lose your job, your child
support payment decreases significantly. Take legal action right away
because the new amount only applies to future payments, not previous
ones. If you’re the parent who receives the money, petition for more
immediately.
2. Decreased Income
If your income decreases, you may file
for a lowered payment if you are the payer and a higher one if you are
the recipient. Again, it is important to take immediate action since
payments are not retroactive.
3. Increased Income
If your income rises, expect your ex to
file for a higher payment. If you receive child support and your income
rises, your ex may file for lower payments or ask that you start paying
instead.
4. Increased Custody
As your time with the children increases,
so does your need for financial assistance. This qualification also
pertains if you’re the supporting parent. The court may reduce your
amount or have your ex start supporting you.
5. Number of Children
If you’re the payer and have other
children with someone else, it may lower your payments. Also, when the
oldest child turns 18, support for that child stops and the rate for any
remaining children is recalculated.
6. Time
Over time, inflation will necessitate greater financial aid. Also, as children grow older, it costs more to care for them.
Modifying child support can be tricky, so it’s best to consult an experienced attorney for child support modifications in Irvine,visit here.
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