Child support matters involve discussions about assets and bonuses when it comes to ensuring the well-being of the children involved.
The state of Texas collects and distributes over $4.8 billion a year in child support funds. For spouses either paying or receiving support, the distribution of assets and bonuses can play an important role in determining the financial responsibilities of each parent.
Assets, which refer to valuable possessions or properties, factor into the calculations of child support in Texas. These can include real estate, vehicles, investments and other valuable items. If one parent possesses significant assets, the court could order higher child support obligations to ensure that the child receives the funding he or she needs.
Bonuses are extra payments from an employer, though there is rarely a guarantee or consistency associated with these funds. Nearly 33% of businesses across the nation offer a year-end bonus. However, this additional income source could also influence child support calculations. If one parent receives bonuses as part of their job, these additional earnings are often a factor when determining child support amounts. The court aims to establish a fair and reasonable support amount based on the parent’s total income, which includes bonuses.
Fairness and equity
In Texas, the court works diligently to ensure the distribution of assets and bonuses is fair and equitable for both the custodial and non-custodial parents. The child’s well-being is the primary focus. The court determines support payments that ensure each child has access to the financial resources necessary for essentials like education, healthcare and daily living.
Working through custodial and support concerns after a divorce is not always easy. State laws and the court’s involvement try to help you navigate the process and understand what to expect.