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Think carefully about support payments during a divorce

Financial support is a key factor in some divorce cases. It is important for people who are going through a divorce to understand some basic points about support orders that might come into the picture.

One of the important points is what type of support payment you are going to receive. There are two types of support payments that are associated with divorces -- spousal support and child support. These are very different.

Spousal support is something that isn't required in every divorce case. This is support that goes from one adult to another. It is usually associated with high-asset divorces and divorces that involve stay-at-home parents. Since this type of support isn't required, you shouldn't count on receiving it unless the agreement has been made or the order is in the divorce paperwork.

Child support is much different and is required by law. A noncustodial parent will usually have to pay a custodial parent support to help with the cost of raising the child. Every state has specific formulas to help courts determine what a child support order should be. It is possible for parties to work together to come up with child support terms; however, the terms must still meet the requirements.

Tax implications and other considerations might occur when you are paying or receiving support payments. Make sure that you carefully consider exactly how proposed payments might impact your life. Whether your case involves spousal support or child support, you should make sure that your rights are being kept intact and that the terms meet the requirements of the law.

Source: Protective, "Alimony and Child Support," accessed June 23, 2017

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