What Is The Income Shares Model?
When attempting to determine the amount of child support that will need to be paid, it is best to have an experienced and insightful attorney on your side. Our lawyers at At Ryan Family Law, P.C., in Elgin, are here to help parents with child support and other family law matters.
Changes To The Illinois Child Support Guidelines
In Illinois, changes to the way in which child support is determined have recently changed.
Before: In the past, only the income of the parent paying (the payor or obligor) child support was taken into account. A percentage of the payor’s income was set as the amount of child support to be paid.
Now: The income of both parents is taken into account. It is no longer a set percentage of the payor. However, the court will now determine the net income of each parent to arrive at a combined net income of the parties (called the income shares model, which many other states have been using for some time). This combined income is used to determine the amount it should take to support the child or children.
What Does This Mean?
- Based on the net income amount determined through the income shares model, the court assesses how much each parent should contribute based on the percentage of income of the combined amount is theirs, as well as how much time they spend with the child.
- The party who does not have the child the majority of the time will pay their share to the other parent, and the parent with the majority of time will have, theoretically, spent their portion on the child due to the child or children living with them.
- Health insurance is added into the total cost of support, and if one party pays the insurance already then they will receive credit for payment.
- If the parties have a 50/50 split of parenting time or if the parent without the majority of time has 146 overnights or more with the child, then the total support amount is adjusted and the amount each party pays is modified to reflect the additional cost of having the child/children for more time than a typical parent without the majority of parenting time.
Questions? We Have Answers.
To learn more about the income shares model of determining child support, get in touch with our knowledgeable and dedicated lawyers today. Call our Elgin office at 847-586-0161 or send us an email to schedule a free consultation.