|
Child support is
designed to ensure that parents with parenting responsibilities have the
financial means to provide the necessities for their children. Minimum
child support payments in Colorado are based on the number of children,
the number of overnights they will be spending with each of the parents,
the relative gross incomes of each of the parents (including maintenance
payments), and specific costs borne by the parents (such as health
insurance or work related child care).
Because the minimum
child support payment is largely based on the relative incomes,
including maintenance payments, and child support is not taxable,
whereas maintenance is taxable, there are tax saving opportunities if
the parties choose to work together to minimize the amount of tax their
two households are paying by adjusting the maintenance and child support
figures.
Child Support
payments are generally payable until the children reach emancipation
age, which is 19, or still in high school, or are mentally or physically
disabled. Child support is always modifiable based on changing incomes,
etc., and requests to this effect will be considered by the Court so long
as the change in support is greater than 10% (it can be less than 10% if
the request is due to adding health insurance premiums or other health
related factors).
Child Support
information and worksheets can be found on the
Colorado Judicial web site.
|
