Indiana 2004 Child Support Guidelines are a set of legal rules used to determine the amount of child support a parent or guardian must pay for the care of their minor children. These guidelines include the basic Indiana Child Support Standards, which are used to calculate the amount of financial support required from one parent to another. They also include several other factors, such as the number of children in the household, the income of both parents, the cost of health insurance for the children, and any additional expenses related to the care of the children. The Guidelines also consider the parent’s ability to contribute to their children’s college education and other related costs. The Indiana 2004 Child Support Guidelines are divided into three main categories: basic support, medical support, and additional expenses. Basic support is the minimum amount of financial support required by law. It is determined by a formula based on the parents' combined net income and the number of children in the household. Medical support refers to the payment of health insurance premiums and other medical expenses for the children. Additional expenses are any additional costs associated with the care of the children, such as daycare or educational fees. The Indiana 2004 Child Support Guidelines are updated periodically to ensure that they remain current with changing economic and family circumstances. The Guidelines are also reviewed by the Indiana Supreme Court annually to ensure that they remain fair and equitable.
Indiana 2004 Child Support Guidelines
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FAQ
The maximum payment a parent owes will not exceed 50 percent of their adjusted weekly income. In this example, the parent would not be told to pay more than $500 a week in child support, no matter how many children are involved.
Do you still have to pay child support if the child goes to college? You will not have to pay child support to the custodial parent or child after the child turns 19, even if that child is in college.
Factors Used to Determine Child Support in Indiana The financial resources of both parents. The child's standard of living if the divorce or separation hadn't occurred. The child's physical, mental, and educational needs.
The court orders a flat percentage of 25% of the non-custodial parent's income to be paid in child support to the custodial parent.
Have you heard your lawyer mention something called the ?Six Percent Rule,? but you're not sure what that is? This term comes from the Indiana Child Support Guidelines and is used to refer to the children's medical expenses, which are not covered by insurance that must be paid by the parent who receives child support.
It is possible to have no child support payments with a 50/50 custody arrangement, but that is only sometimes the case. For example, if one spouse has a higher income than the other, they may be required to pay child support even with a 50/50 split.
When a child turns 19 years old, the child is emancipated by operation of law, and the non-custodial parent's obligation to pay current child support terminates.
Child support calculations all start with adding up your weekly gross income. Indiana child support guidelines define weekly gross income as the actual weekly gross income of the parent if employed, potential income if unemployed or underemployed, and the value of ?in?kind? benefits.