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Posted on in Child Support

TX high asset divorce lawyerChild support in a high asset divorce can work a bit differently than child support for a low-income family or a middle-class family. While Texas’s child support law still applies, the calculation for and amount of child support will likely be quite different. If you are anticipating a high net worth divorce in Austin, Texas, it is important to discuss all aspects of the divorce process with an aggressive Texas high asset divorce lawyer. In the meantime, we want to say more about child support in Texas and how high net worth parents should be thinking about child support in relation to their divorce.

General Information About Texas Child Support Laws

Before we explain how a high asset couple should be thinking about child support in their divorce, it is essential to understand how child support works under Texas law. First, Texas is one of only a handful of states that still uses a “percentage of income” model. While a number of states have shifted to an “income shares” model in which both parents’ incomes are used to calculate a total child support obligation, Texas only uses the income of the obligor parent’s income (the parent ordered to pay child support) to calculate the child support obligation.

In Texas, courts take a flat percentage of the obligor parent’s income as the child support amount. That flat percentage is based on the total number of children for which the obligor parent is providing support. The guidelines look like this:

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Posted on in Child Support

 Austin divorce attorney, child support in high-asset divorces, Williamson high-asset divorce attorney, complex litigation, child custody issues, child support payments, cease paying child supportWhen married parents are going through a high-asset divorce, two issues that need to be decided are child custody and support. Depending on what the parties agree to, and/or what the court decides, the parent who typically has less physical time with the child will be responsible for paying child support.

The purpose of child support is to ensure that both parents are contributing to the financial care and cost of raising the child. Unfortunately, and all too common, the parent who is ordered to pay the child support does not see it that way, but instead sees it as money he or she is paying to their ex-spouse. For various reasons, the paying parent does not, or will not, accept that it is their duty as a parent to contribute to the child's financial needs.

Often in these situations, the paying parent will skip payments, make partial payments, or cease paying child support payments entirely. Deadbeat parents who do not make child support payments come from all financial backgrounds, including those with high assets.

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