Child support is crucial for a child’s well-being after their parents get a divorce. It ensures that both parents contribute financially to their child’s upbringing.
Colorado uses a formula to determine the amount, which typically becomes the primary responsibility of the non-custodial parent. This formula helps create fairness and consistency in support payments. It considers both parents’ incomes and the child’s needs.
Factors considered in establishing child support
In Colorado, courts use specific guidelines to set child support payments. Here are the factors they consider:
- The child’s financial needs
- The custodial parent’s financial resources
- The child’s standard of living had the marriage not ended
- The child’s physical and emotional condition and their educational requirements
- The non-custodial parent’s financial resources and needs
These factors help ensure fair support payments meeting the child’s best interests.
What counts as income?
The child support formula in Colorado includes various types of income, including:
- Salaries and wages, including tips
- Commissions and bonuses
- Payments received as an independent contractor
- Dividends, interest and royalties
- Rents and trust income
- Pensions and retirement benefits
- Social Security benefits and workers’ compensation
- Unemployment and disability insurance benefits
- Monetary gifts and prizes
Support payments typically last until the child turns 19 unless certain conditions extend the obligation, such as the child still being in high school or having special needs.
Calculating child support payments
In Colorado, child support is calculated based on the parents’ combined adjusted gross income and the number of children needing support. The formula allocates a percentage of the combined income to child support, based on the child’s or children’s needs.
Here’s how the state typically divides responsibility:
- Total income: Both parents’ adjusted gross income totals are combined.
- Percentage allocation: Based on the guidelines, the state allocates a percentage of this combined income for child support. For example, approximately 20% for one child, 30% for two children and so on.
- Proportional responsibility: Each parent’s contribution determines their share of the child support obligation. In other words, if one parent earns 60% of the total income, they will be responsible for 60% of the child support payment.
Colorado provides a free online child support calculator, allowing parents to get an estimate of their potential payments. This tool, while only an estimate, helps parents understand their financial obligations and plan accordingly.
What happens when financial circumstances change?
When either parent’s financial situation changes or the child’s needs evolve, it can affect child support. If a parent loses their job, gets a raise, or the child’s medical or educational needs increase, the support amount may need adjustment.
An experienced attorney can answer your questions about child support and help ensure accurate support amounts. They can also file modifications to the original child support order if you or your co-parent’s financial circumstances change. This helps ensure the support payments remain fair and sufficient for your child’s day-to-day needs.