Child Support
Child Support
Child support is the sum of money that one parent, typically the one who sees their child the least, pays to the other. This is typically the parent the child does not reside with. Child support is calculated based on the paying parent’s gross annual income, the number of children they are responsible for supporting, and other factors in order to pay for the costs of raising the child.
If both parents are in a shared parenting agreement, each pays the other child support depending on their respective wages.
Similarly, in a split parenting arrangement, each parent will pay the other child support for the child/children in custody according to their respective incomes and child support guidelines.
Special and extraordinary expenses
There are special expenses commonly known as section 7 expenses, which are necessary to go beyond the basic coverage of child support. These expenses can include daycare fees, healthcare, schooling fees, etc. Usually, each parent will have to contribute in accordance to their income after considering any insurance benefits and discounts on the upfront expenses.
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