Many parents involved in child support-related legal matters believe that the guideline for child support in Texas is simple; however, the determination of child support may be more complex than it seems. While the current child support guidelines in Texas can give most parents a fairly accurate view of what to expect as far as payments are concerned, for some, there is a lot more to the figures for support than the amount on the check a parent brings home at the end of the week. The full financial pictures of both parents need to be explored to ensure the fairness and accuracy of any child support agreement.
Income used to determine child support can include bonuses. Tips are also considered income and need to be included when determining parental income. Also, some parents work for commission, in addition to being paid salary or hourly. This commission can obviously affect the income bracket and, thus, help determine the amount of child support the non-custodial parent will pay.
There are other financial holdings that can affect a child support amount. Certain investments can also count as income, such as dividends and income from trusts. Social Security Benefits, unemployment benefits and pensions can all be included to get the full scope of a parent’s financial picture.
Financial holdings can be complicated. One parent may not even be aware of some of the assets or income his or her child’s other parent may need to declare when child support is being determined. Our website has more information for Texas parents who are in the midst of a child support case or are interested in the various types of income that can impact a child support amount.