Ottawa Divorce .com Forums


User CP

New posts

Advertising

  Ottawa Divorce .com Forums > Main Category > Financial Issues

Financial Issues This forum is for discussing any of the financial issues involved in your divorce.

Reply
 
Thread Tools
  #1  
Old 03-31-2019, 12:58 PM
bfonline bfonline is offline
Junior Member
 
Join Date: May 2010
Posts: 5
bfonline is on a distinguished road
Default 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.
Reply With Quote
  #2  
Old 03-31-2019, 01:08 PM
rockscan rockscan is offline
Senior Member
 
Join Date: Mar 2014
Posts: 5,156
rockscan will become famous soon enoughrockscan will become famous soon enough
Default

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.
Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Children's bennefits Wiser2008 Financial Issues 21 05-03-2019 06:21 AM
cs and s7 obligations 06nomad Divorce & Family Law 5 05-11-2011 04:46 PM
Child with high section 7 expenses and spousal support vicarious Financial Issues 8 04-29-2011 03:56 PM
Child support after child has completed high school szepj1 Financial Issues 1 10-14-2010 03:57 PM
What Were They Thinking........ FL_Needs_To_Change Divorce & Family Law 6 05-25-2007 09:47 PM


All times are GMT -4. The time now is 04:20 PM.