Is child support based on wealth?

The biggest factor in calculating child support is how much the parents earn. Some states consider both parents’ income, but others consider only the income of the noncustodial parent.

How much is child support for a billionaire?

However that does not mean that the child support seeker can get 17\% of a billionaire’s income. Courts may apply the 17\% to the total combined income but they are not required. The court will generally calculate that child support is 17\% of the both parents’ combined income up to an income cap.

What billionaires divorced?

Melinda French Gates ended up with billions of dollars of stock in a variety of companies after her divorce from Microsoft Corp. founder Bill Gates, while Mackenzie Scott, the former wife of Amazon.com Inc. Chairman Jeff Bezos, is the world’s fourth-richest woman, with a net worth of $56.4 billion.

Do you have to pay child support if you have shared custody?

If you two have shared custody, or equal custodial time, then, in this state, the higher wage earner will still have an obligation to pay child support to the lower wage earner, however it will be a reduced figure due to his or her shared custody time.

How much does a hockey player have to pay for child support?

The parties entered a Memorandum of Agreement that provided, in part, that Father, a professional hockey player, would pay $15,000 per month in child support unless an NHL lockout occurred, in which case he would pay $2,500 per month until the lockout ended based on Father having custody of the children 40\% of the time.

How is the amount of child support determined in a divorce?

In any divorce involving minor children, it is necessary to determine an amount of support that will provide an appropriate lifestyle for the children based on the financial resources of the parties. All states have provided guidelines for determining an appropriate level of child support either by statute or through case law.

How does spousal support affect child support?

If spousal support is also to be paid, then this will also affect the child support obligation, as it increases the income available to the recipient. Whom owes child support to whom will depend on what custody schedule is in place. If you are the primary custodian, she would owe child support to you.