Many fathers are concerned about their rights to being assessed fair child maintenance payments based on what they can afford. While the federal government mandates that each state uphold a schedule; they do not require it to be consistent from state to state. In Texas, child maintenance payments are calculated by the following formula.
First, 100% of wages from salary, bonuses, overtime, interests, dividends, royalty, tips and commissions are considered. If you are self employed, that income is also included, however the child support laws in Texas deduct for the cost to you to sustain your business. If you have rental property, this income (after mortgage and expenses) is also used to base your child support payments on.
Any other income you may have and all assets including retirement benefits, trust incomes, annuities, capital gains, interest income and any unemployment or disability benefits you receive are also required to be revealed in order to uphold Texas child support laws. When you provide proof of your income, it is vital to be honest and forthcoming about what you receive throughout the year and not doing so can result in penalties punishable by enforcement or law.
Many fathers are responsible for continuing health insurance on their children and this is one thing that can is deducted from your total income. Other deductions include your federal and state income tax, social security taxes and any union dues that you may pay for your employment. Keeping accurate records from year to year affords you the best chance at making changes later should the need arise.
With the economy reducing current income possibilities for many fathers paying child maintenance, the child support Laws in Texas include clauses that can assess child support payments based on 'earning potential.' This means that the courts use a calculation to include what they feel you should be or will be receiving in the future. Once these figures are asserted, the courts determine your net resources.
The net resources are the amount of income that you are likely or proven to receive in a month's time. The next calculation based on child maintenance laws in Texas is based on the amount of children that you have. For instance if you have 1 child, your child maintenance obligations are 20% of your net resources. The number increases by 5% for every child thereafter that you have.
The child maintenance laws in Texas offer a wide range of options for parenting teams that can mutually agree upon changes that do not require legal intervention. This can save both time and money. If at any time you feel that your custody agreements and child support obligations are based on outdated information that is no longer relevant and the child's mother is in agreement you and she can file provisions as you wish.
As long as both parties are in agreement, Texas law will document and change your outlined agreement quickly.
While many parents believe that seeking joint custody will eradicate the needs for child support to be granted, Texas law states otherwise. In certain instances, decided upon by the courts, a judge can assess child support to one parent even if joint custody is attained. These terms are primarily temporary and were made part of the child support laws in Texas to ensure that the best interests of the child are always being met.
