Is $10,000 too much for child support?
When it comes to child support, there is no one-size-fits-all answer. The amount of child support that is appropriate in any given situation will depend on a number of factors, including the income of both parents, the number of children involved, and the age of the children. If you are a high earner, you may be ordered to pay a significant amount of child support each month. But is $10,000 a month too much? Let's explore the answer to this question
Recently Tyrese Gibson was ordered to keep paying over 10K in child support each month. [1] However, he disagrees with this amount and states that he doesn’t know exactly how much he makes each month and therefore the amount is too much.
How Child Support is Determined
In order to determine how much child support should be paid, courts will consider many factors including:
• The needs of the child
• The income of both parents
• The number of children
• The custody arrangement
• Any special needs the child may have
Based on these factors and others, the court will then develop a child support order that is in the best interests of the child. In Georgia, this is done with a child support worksheet.[2]
The Cost of Raising a Child
According to CNBC, the cost of raising a child from birth through age 17 is about $286,000 or $15,889 per year.[3] This figure does not include the cost of college. While this amount may seem astronomical, it is important to remember that it is an average and will vary depending on your individual circumstances. For example, if the children attend private school, live in a higher income area, have parents that are high income earners. On the other hand, if you live in a low-cost area or you have other child support orders your cost may be lower. In any case, it is safe to say that raising a child is expensive and that child support orders should reflect this reality.
Is $10,000 a Month Too Much for Child Support?
Based on the average cost of raising a child, $10,000 per month is actually on the low end for some families and on the high end for other family. However, every family's situation is different and there are many factors to consider when determining the appropriate amount of child support. Therefore, if you have been ordered to pay $10,000 in child support each month and believe this amount is too high for your particular circumstances, you should speak with an attorney about your options.
Finally, it's important to remember that child support is not just about money. It's also about time. A father who pays $10,000 per month but only sees his children every other weekend is not doing his fair share. Child support should be about providing for your children emotionally as well as financially.
No two families are alike and there are many factors to consider when determining the appropriate amount of child support. There is no easy answer when it comes to how much child support should be paid. Every family is different and what works for one may not work for another. Ultimately, the best course of action is for to the parents to come to an agreement that meets the needs of their family.
[1] https://www.tmz.com/2022/09/07/tyrese-wants-new-judge-divorce-bias-child-support/ [2] https://csconlinecalc.georgiacourts.gov/ [3] https://www.cnbc.com/2022/06/08/childcare-social-safety-net-policy.html
