Does child support go up if you have an increase in your income?
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Does child support go up if you have an increase in your income?
I currently pay child support. I have remarried and have 2 more children. I would like to be able to provide for my new family as well. I am currently looking at an investment property with my wife to put more stability in our every day life as well into our children future. Can they increase my child support if I buy this property because I have more income even though I am buying it with my wife?
Asked on September 17, 2012 under Family Law, Wisconsin
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Child support orders in all states in this country are premised upon the net monthly disposable income of the parents of a given minor where a child support order is in place. Just beacuse a parent's gross monthly income increases does not necessarily mean that his or her net monthly income does so as well.
Net monthly icome is determined by gross monthly income less expenses on a monthly basis.The mere purchase of property (unless income property) does not necessarily mean that one's net monthly icome increases since if you are financing this property there is a monthly debt load that you need to service it not including property taxes, upkeep and insurance.
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