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High level Child Support Level Calculation

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  • rockscan
    replied
    Questions:

    1) What is a fair child support given his child from second marriage?


    Off set table support as calculated. Second child does not come into play. He is responsible for his first kids first

    2) What is a fair basic structure for other expenses, e.g. clothing, essentials (e.g. secondary school expenses), non-essentials (e.g. sports fees, phones), post-secondary savings (e.g. RESP), etc.


    You would calculate the proportionate share. 300,000 divided by 375,000. Depending on the expense though. Pizza days or other “cheap” expenses are covered under cs.

    School expenses are different though. You can open your own RESP for your proportionate share. You should talk to your kids though and make sure they understand they should contribute too but at that income level there would be a closer look at your contribution.


    2) Any suggested modifications/revisions to consider once the kids are in post-secondary (all are academic focused)



    If they go away you may only pay for summer months but again the 300 grand a year makes it a special case.

    Leave a comment:


  • bfonline
    started a topic High level Child Support Level Calculation

    High level Child Support Level Calculation

    Thanks in advance for your input here for appropriate child support arrangement…

    Quick Facts:

    Kids: 2 (16 & 14); 50/50 shared/joint custody

    He:
    • Income: $300k/year in income
    • Marital Status: Remarried with 5 year old child
    • Spouse: No longer works (work/life balance decision)


    She:
    • $70k/year in income
    • Marital Status: Remarried with 14 year old step-child
    • Her Spouse: Works with $85k/year income; paying CS to ex-wife (50/50 shared/joint custody as well; she makes $50k/year)


    Child Support Table: $3,877 ($300k) - $1,067 ($70k) = $2,810/month

    Other Supporting Facts:
    • Currently in year 10 of separation
    • Revise CS annually based on NOAs based on child support table
    • No adjustments have been made to date on other considerations, i.e. child from second marriage
    • Original SA negotiated without using lawyers
    • Cordial relationship between exes
    • Not looking to combine household incomes, just provided for current situation


    Questions:
    1) What is a fair child support given his child from second marriage?
    2) What is a fair basic structure for other expenses, e.g. clothing, essentials (e.g. secondary school expenses), non-essentials (e.g. sports fees, phones), post-secondary savings (e.g. RESP), etc.
    2) Any suggested modifications/revisions to consider once the kids are in post-secondary (all are academic focused)

    Thanks.
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