Planning for the Financial Needs of Your Children
Each parent is obligated to provide for their children financially. While married or successfully cohabitating, this occurs naturally without much thought. After a divorce or separation, however, it is a critical issue that needs to be addressed to help ensure the financial needs of the children are met. There are many things to think about in addition to standard support: extracurricular activities, uninsured medical expenses, income tax exemptions, tutors, summer camps, and child care and college expenses. We are here to make sure you think of these important financial aspects of raising your children and that they are not forgotten.
In the majority of situations, child support will be determined primarily by a legal formula that is used throughout the state of Washington. This formula looks at a number of factors including the income (and potential income) of both parties, the number of children, the child custody and parenting time arrangements, and more. Based on that information, one parent will typically be obligated to provide financial support to the other parent to help care for the child.
If you believe that your circumstances warrant something other than the standard formula, please let us know. There can be agreements and deviations made to the standard child support formula, so don’t be afraid to speak up for what you believe is right. We can evaluate your situation and provide insight into likely outcomes of any such requests or concerns. The many factors that are involved in determining child support vary amongst each family’s circumstances. Our team is extremely knowledgeable and is able to help you understand and navigate this process.
Contact us to discuss your options and begin the process of creating or updating a child support order here in Washington.