If you are subject to the terms of a Parenting Plan and/or Final Decree or other Order for child support either being the recipient (the obligee parent according to the terminology of the child support guidelines promulgated by the State of Tennessee) or the party paying child support (the obligor parent), the first of the new year brings with it some responsibilities such as exchanging W-2’s, tax returns and sometimes proof of life insurance. This is a good time to get out your Court Order and review these requirements. You could be entitled to either an increase in support or a decrease in support. Generally, parties are required to exchange their W-2’s by February of each year and then in April to exchange their tax returns. Some Orders also require proof of life insurance to the other parent.
Child support is figured on a child support worksheet which is found on the State of Tennessee website. The child support worksheet, or child support calculator as sometimes called, uses data specific to each family. The data includes the parties, the number of days a child(ren) spends with each parent based upon the Court Order also referred to as a Parenting Plan. In addition to these items, a parent will need to provide his or her current income, the costs of health insurance and the cost of daycare. Once this information is provided to an attorney, a worksheet may be calculated to see if there is a basis for an upward or downward adjustment.
In certain cases other data should be included in the worksheet such as other children for whom the obligor or obligee parent may be responsible. Each case is fact specific so it is important to consult with an attorney to make sure that all facts are presented to adjust the support in the manner which is most advantageous to you the client.
Please review your Parenting Plan, Final Decree and/or Orders which address your parenting plan and support and if you do have any questions call 615-790-1778 or 615-794-3442 for appointment.
