Child support remains a key concern for parents sharing 50/50 custody. Many believe that equal custody means no child support obligation, but that isn’t always the case. Child support aims to ensure that the child’s needs get met, regardless of the custody arrangement.
The Income Shares Model
Colorado uses the “Income Shares Model” to calculate child support. This model considers the combined income of both parents and estimates the amount typically spent on a child if the parents lived together.
The court then divides this amount between the parents based on their respective incomes. In a 50/50 joint custody arrangement, the parent with the higher income may still pay child support to balance the financial responsibilities between both parents.
Adjustments based on expenses
The court also considers additional expenses when determining child support. These can include health insurance, medical costs, educational needs, and childcare. If one parent covers more of these expenses, the court may adjust the child support amount accordingly.
Seeking a fair arrangement
Parents sharing 50/50 custody should aim for a fair and transparent financial arrangement. Open communication about finances and expenses can help avoid disputes and ensure that both parents contribute equally to their child’s upbringing. If circumstances change, such as a significant change in income or unexpected expenses, parents can request a modification of the child support order.
Navigating 50/50 custody and child support
50/50 custody doesn’t automatically cancel child support obligations. Working together to create a fair financial plan benefits both the parents and the child, providing stability and support for the future.