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Good Fortune Child Support Archives

These high-paying jobs could mean significant child support

Good fortune child support is often connected to people with an incredibly high wage, such as a professional athlete or someone who owns his or her own corporation. These people are far past thinking about salaries and hourly wages. They're earning hundreds of thousands or even millions of dollars every year.

Balancing child's 'best interest' and 'standard of living'

The regular baseball season is still months off, but spring training is due to start later this month in Florida and other southern tier states. Not all the action is going to be on the field. For one Detroit Tigers player, being in Florida includes an ongoing legal dispute over child support. At the heart of the matter is application of Florida's "good fortune" child support provision.

Don't wait to file for a child support modification

Child support is an important part of being a good parent to a child after you and the child's other parent are no longer together. Contrary to the popular image of deadbeat parents who skip out on child support payments, most parents who struggle to pay child support would prefer to pay their fair share and simply can't. The good news is that it is possible to modify your child support order with proper help.

Celebrity child support is still contentious

Just because you're a celebrity doesn't mean that you are immune from child support laws that effect the rest of us. Recently, singer and actor Marc Anthony lost a legal battle over increasing child support payments to his former wife and Miss Universe winner Dayanara Torres. Under the terms of the case, the former beauty queen sought significant increases to her children's already robust support payments, claiming that the disparity in the quality of her home and Anthony's was upsetting to her children.

Forensic accountants help ensure fair dealings

If you are facing divorce with a child in the equation, you may find yourself at odds with your former spouse on nearly every front. While many parents are able to work together to create a fair parenting and child support plan for the future, some parents act out in surprisingly selfish ways and attempt to hide assets or potential sources of income to avoid having them used for child support and alimony calculations. If you believe you may be in such a situation, it may be time to consider enlisting the help of a forensic accountant.

What should be covered by child support?

When it comes to calculating child support, especially for high earners, one of the most common issues that comes up is "yes — but should child support really pay for that?" While it can be a tough pill to swallow for those writing the checks, the blow may be somewhat softened knowing that the range of things that may legitimately be covered by child support according to the law is quite extensive. Many conflicts over child support stem from a misunderstanding of who child support is for. Ultimately, even though it is paid to a parent, child support is the right of the child, and should be used across many areas of the child's upbringing.

Child support and unrealized income

For the purposes of calculating child support payments, the concept of "income" is often defined just about as broadly as possible. This can create a tricky situation for the parent who is being tasked with providing regular child support, especially when in comes to the matter of unrealized income and child support. In these cases, income that exists in theory or on paper, but is not in a liquid form, may be counted as income for child support purposes, and increase the providing parent's child support obligation to an untenable figure. After all, making a monthly payment based on money you don't actually have or cannot access can be quite the setback.