Good fortune child support may not seem like good fortune to the high earner in a separating couple. Parents always want the best for their children, and sometimes, courts can mandate that parents must provide it.
Why does good fortune child support exist in Florida law?
Child support payments are often calculated by an equation that allots money for children’s basic expenses, sometimes taking into account a parent’s ability to earn it. If a parent has an extraordinary ability to earn or spend, the child or other parent may be entitled to more than basic expenses on behalf of the child.
What is the basis for good fortune child support?
A 1998 Florida case known as Finley v. Scott established the most recent foundation for this type of child support, but the idea comes from a 1995 case called Boyt v. Romanow. In this case, child support payments above the child’s reasonable needs were invested in a “good fortune trust” for the child’s use upon becoming an adult.
How are a child’s good fortune privileges decided?
Courts generally have the discretion to decide the standard of living the child should be able to enjoy based on the excess payments available. This has nothing to do with a parent’s fitness as a custodian, and payments do not involve assets such as properties or retirement accounts.
How can a parent get good fortune child support for his or her child?
An attorney can help a parent learn more about good fortune child support and make the argument to include it in child custody or child support proceedings.