Skip to content
We're Available for Remote Meetings to Safely Serve Our Clients

Categories

Orange County divorce attorney; The Maggio Law Firm

Calculating Child Support And Alimony In A Divorce

Orange County divorce attorney; The Maggio Law FirmManaging finances during divorce is a skill every individual who is heading for a divorce needs. It’s better to be mentally prepared for a financial loss than be unprepared at all. First there is the question of property. If you’re someone who has accumulated a lot of wealth during your marriage, then brace yourself for some financial damage unless you claim most of them to be a separate property. Next, if you and your spouse have considerable difference in terms of earnings, you might end up paying a certain amount as alimony. And lastly, if you have children and you lose the custody battle, then you will have to pay for child support too.

Managing finances can be a tough job and that is why you need the help of an expert divorce lawyer. To try to limit financial hardship, calculate your expenses prior to the divorce proceeding.

Calculating child support

Child support is the money you pay for your child’s education and welfare till he/she turns 18. In few cases, the support can continue till the age of 21. The amount that you need to pay for child support depends on many factors. Your annual income plays a deciding factor and so does your ability to take debts. If you’re the non-custodial parent, then prepare yourself to pay more than your spouse. Other important factors which the court will look at is the age of your child and who is paying for the health insurance.

Calculating Alimony

Usually alimony is calculated after child support. The court will look at your financial capability to support your spouse after you have paid for child support. Unlike child support which is based on what is good for the child, alimony calculations are based on how much you can provide to your ex. Factors like income, property and child support is taken into consideration while calculating alimony.

Conclusion

It is important to manage your finances during divorce. It should be done through an experienced divorce lawyer because it not unusual to lose a lot of money during divorce and only a lawyer can help you take the best decision. Calculating your alimony and child support expenses will help you make good decisions regarding finances. Bankruptcy is one of the major pitfalls of divorce and good financial management is only way to survive it.

Getting divorced in California can be complicated.  Download our free eBook, 18 Important Things to Know About California Divorce to educate yourself on the process.  

divorce_attorneyGerald A. Maggio is an experienced Orange County divorce and family law lawyer and family law attorney located in Irvine, California, serving the Orange County and Riverside areas. Mr. Maggio assists clients with legal issues including divorce, legal separation, divorce mediation, child custody, prenuptial agreements, stepparent adoptions, and other family law issues. Mr. Maggio has practiced law in California since 1999, and founded The Maggio Law Firm in 2005, focusing exclusively on divorce and family law matters.

SHARE

RECOMMENDED

Orange County divorce lawyer; The Maggio Law Firm

Dealing With Abuse During Marriage

A couple goes through several ups and downs in their relationship when a marriage becomes rocky and is a troubled one. Contrary to what many people would like to believe,…

READ MORE

Typical California Divorce Settlements about the Family Home

Your home is your castle, and this mindset is never more evident than when a divorce leaves a couple arguing about who gets the family home. In many cases, it’s…

READ MORE
lawyer-com-premium-full-2
top-10-full
Ten-Best-full-2
Top Orange County Family Law Attorney
Top Orange County Divorce Lawyer
Best Orange County Family Law Attorney
Avvo-2020-Gerald-Anthony-Maggio
Top Orange County Divorce Lawyer
top-100-full
Schedule a consultation