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Child support: Dealing with unusual income sources

On Behalf of | Nov 4, 2015 | Child Support

Physical and monetary assets normally do not factor into a child support order and how much you may pay or receive. However, high-asset divorces also often deal with high incomes, which do impact your potential child support order. These types of situations may also be more likely to include alternate sources of income, such as rental income, stock dividends and interest from financial accounts.

If your spouse has been the primary breadwinner for the family and has some of these more unusual income streams, it can be confusing trying to understand what impacts child support and what does not. You may even find through the financial discovery and disclosure process that your soon-to-be ex was hiding income. An experienced family law attorney can help you get an accurate picture of the family’s finances so that a fair and reasonable child support order can be implemented according to Florida’s guidelines.

It’s also important, however, that only income that is legally required to be considered in a child support order be factored in. If you are going to be the one paying support, you will want to ensure that your attorney can fight for your financial interests, even if this means asking for a deviation from the initially recommended support amount.

It’s common for those going through a high-asset divorce to not understand the importance of legal counsel for child support issues because these divorces often involve a prenuptial agreement that makes the property division process fairly simple in most cases. However, a prenup legally cannot make any provisions for child support, making appropriate legal counsel crucial.