At the end of a marriage in Colorado, a couple with a child will want to make sure the child is cared for and has everything he or she needs to thrive. Child support is a big part of that. Frequently, parents will be completely unaware as to how child support is calculated in the state. Knowing the factors that are considered goes a long way toward understanding what the state will think about when making its determination.
In general, Colorado wants children to receive the same amount of support they would have gotten had the parents remained married. With that, the child will be granted a portion of the total income of each of the parents. It is referred to as "income shares." Both parents' incomes will be calculated. The parents will then be given a portion of how much they are expected to contribute based on a percentage of their total gross incomes. There will be other factors considered such as health insurance and daycare. Parental responsibility and how its costs are also factored in. These are calculated and then divided so a monthly amount will be determined.
After adding the parents' gross incomes, there is a table that will be used. It is called the Schedule of Basic Child Support Obligations. The relevant amount is divided between the parents based on their share of the combined income. For example, if one parent earns 60 percent of the combined income, that parent will pay 60 percent of the child support with the remainder paid by the other parent.
Of course, there will be other costs that might arise when caring for a child such as dental work, special education costs and more. Some cases can be assessed differently if it is a high-asset situation. Regardless, when parents are determining child support, having a basic understanding on how it is calculated is crucial. A law firm that specializes in family law and child support can help in any case from the perspective of the custodial parent and the supporting parent.