Children are our greatest asset. Ensuring they cope well after divorce comes down to both parents acting accordingly.
Children thrive off of stability. Divorce throws a wrench into the stability picture, but all is not lost. When parents divorce, there is a high likelihood that both parents or the parent that claims sole custody (if applicable) will remain in the same jurisdiction. Doing so will help the child cope with their parent separation because it keeps their relationships secure and daily schedule relatively similar.
Another factor that will help your kids normalize their new lifestyle is financial stability. While the money won’t be sent directly to them for personal use, the child support payments should support the child’s best interests.
Child support in Minnesota
How does Minnesota calculate child support? They use the income shares model, which goes like this:
- Calculate you and your spouses’ annual incomes: For an example, dad makes $60,000 per year, and mom makes $40,000.
- The court determines how much it costs to raise a child in your jurisdiction, and the support must allow the child to maintain the same level of comfort they grew accustomed to before their parent’s divorce.
- According to Smart Asset, Is costs around $900 per month to raise a child in Minnesota’s rural areas. In urban areas, that increases to $1,100 per month. Remember, those figures are the average cost. For this example, we’ll focus on the rural figure of $900 per month.
- Since the father makes $60,000 and the mother makes $40,000, the father brought in 60% of the family’s income. Thus, he would have to pay 60% of the $900 child support payment, or $540, while the mother would pay the remaining 40% ($360).
The state applies good faith tactics for custodial parents assuming their support funds go to the children via housing costs, clothes, food, and other necessities. The non-custodial parent is required to send their monthly support payment.