Garbage In = Garbage Out for Child Support

Jan 12, 2023 | Child Support

When child custody is a factor in your divorce, providing accurate financial information to your legal counsel is of critical importance to determining child support payments.

The phrase “garbage in = garbage out” refers to circumstances in which the use of inaccurate data (garbage in) in a calculation will lead to inaccurate results (garbage out). This phrase can be applied to child support calculations, as incomplete or inaccurate asset valuation can impact the amount of child support you must provide.

How is Child Support Calculated in Illinois?

In Illinois, mandatory child support guidelines require that each parent provide accurate financial information. The judge will consider this information, the number of children supported, and the amount of parenting time in your child custody agreement before making a determination regarding child support obligations.

While both parents will have financial obligations to their children, only one parent will be ordered to pay child support to the other. These payments may be ordered to be paid on a monthly, semi-monthly, weekly, or bi-weekly basis depending on the circumstances.

Garbage In = Garbage Out

The formula for determining child support is straightforward, but it is important to work with accurate numbers and have a true understanding of each party’s circumstances. Without a complete financial snapshot of you and your ex’s debts and assets, your child support agreement may not reflect a fair outcome.

The process of asset valuation can be one of the more complex aspects of a divorce. Consultation with attorneys and financial experts is a crucial step to ensure that you reach an agreement that is in you and your family’s best interests. A skilled family law attorney can conduct a thorough asset valuation with the help of experts such as forensic accountants to uncover hidden assets. These careful asset investigations will help you avoid a “garbage in = garbage out” child support scenario.