Lowering Your Child Support Payments - Why Should I Average My Income Over a Few Years?
Taking your ex-spouse to court for a divorce settlement is never an enjoyable experience.
The love you may have had for each other years ago suddenly becomes a mixture of hate, spite and anger.
When discussing your child support obligations in the courtroom, there are some steps you can take in order to keep your child support payments reasonable and financially obtainable for you.
One trick that needs to be taken into consideration when working on your child support obligations is knowing how to present your financial information to the courts.
Many lawyers advise their clients to submit an average income based on a few years of work.
Why would this be helpful? How would this help you lower your child support payments? If you recently received a raise, worked more overtime more recently than you had in the past, or received recent bonuses that would change your financial status, it's important to average your income over a longer period of time to show that the bonuses and overtime are considered a non-recurring income figure that does not happen on a regular basis.
This will help the courts determine a more reasonable amount for child support that will not leave you working over-time for the rest of your life in order to make your child support obligations each month.
By showing your income over an extended period of time, you are showing the courts that your financial situation now was not always the same, and that if you were unable to obtain overtime and bonuses through your place of employment, your income would be substantially lower.
This is a great way to assist in getting your child support obligations lowered in conjunction with your financial ability to pay for your children with the income you may, or may not, be receiving.
The love you may have had for each other years ago suddenly becomes a mixture of hate, spite and anger.
When discussing your child support obligations in the courtroom, there are some steps you can take in order to keep your child support payments reasonable and financially obtainable for you.
One trick that needs to be taken into consideration when working on your child support obligations is knowing how to present your financial information to the courts.
Many lawyers advise their clients to submit an average income based on a few years of work.
Why would this be helpful? How would this help you lower your child support payments? If you recently received a raise, worked more overtime more recently than you had in the past, or received recent bonuses that would change your financial status, it's important to average your income over a longer period of time to show that the bonuses and overtime are considered a non-recurring income figure that does not happen on a regular basis.
This will help the courts determine a more reasonable amount for child support that will not leave you working over-time for the rest of your life in order to make your child support obligations each month.
By showing your income over an extended period of time, you are showing the courts that your financial situation now was not always the same, and that if you were unable to obtain overtime and bonuses through your place of employment, your income would be substantially lower.
This is a great way to assist in getting your child support obligations lowered in conjunction with your financial ability to pay for your children with the income you may, or may not, be receiving.
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