While some divorce cases go over relatively smoothly, very often they become messy for everyone involved. It is typically a highly emotionally charged situation where both spouses are concerned over a myriad of issues. However, the primary concern for any couple going through a divorce will always be the well-being of their child. Because of this, the matter of child support is usually one of the top priorities when it comes to divorce proceedings.
Multiple factors are taken into account when determining what the fair and appropriate amount should be. Naturally, one of the key factors in this process is the income of both spouses. For wealthier people, that will likely mean paying more in child support compared to the standard amount in South Carolina. Divorce cases can be very difficult to resolve, especially when it comes to reaching a final agreement on financial matters. If you and your spouse no longer want to be together, reach out to a Chesterfield divorce lawyer at Cockrell Law Firm, P. C. for more information about the process.
How much more do wealthier people pay for child support?
In South Carolina, calculating the appropriate amount of child support to be paid can be dependent on a variety of factors. This can include things like the individual gross income of each parent as well as their combined income, any potential additions or deductions to the income of either parent, and the number of children as well as any benefits they are entitled to. After these factors are properly analyzed, a court will decide on the appropriate amount of child support to be paid. Based on the combined monthly income of the parents prior to the divorce, typically the parent with either primary or sole custody of the child will cover 20% of the monthly costs while the other parent will pay 80% of the child support.
However, this can vary depending on the individual gross income of each parent as well as the outcome of child custody. In cases involving wealthier people, this may mean paying a larger percentage of child support. To qualify as high-income earners in South Carolina, the parents must have a combined gross income exceeding $240,000 per year. If the combined gross income of the parents qualifies them as high-income earners, despite the income of one of the parents making up the vast majority of it, a court may decide that one parent must pay a higher amount of child support. Since it is assumed that higher incomes means higher spending, a court may decide on larger child support payments so that the child can maintain the quality of life they had prior to the divorce.
