Thanks in advance for your input here for appropriate child support arrangement…
Quick Facts:
Kids: 2 (16 & 14); 50/50 shared/joint custody
He:
She:
Child Support Table: $3,877 ($300k) - $1,067 ($70k) = $2,810/month
Other Supporting Facts:
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.
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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