Shared parenting agreements are becoming more common. as courts emphasize the importance of both parents being actively involved in their children’s lives.
These arrangements can significantly affect traditional child support calculations.
Shared custody and child support calculations
Tennessee uses an income shares model to determine child support. This model considers both parents’ incomes and the amount of time each parent spends with the child. In shared custody arrangements, where parenting time is nearly equal, the traditional approach to child support changes. The parent with a higher income may still pay support, but the amount is typically reduced to account for the equal sharing of responsibilities and expenses.
Factors influencing adjustments
Courts consider several factors when adjusting child support in shared parenting cases. These include the number of days the child spends with each parent, childcare costs, health insurance premiums, and other direct expenses related to the child. The goal is to ensure the child’s financial needs are met without unfairly burdening either parent.
Challenges of shared custody agreements
Shared custody can present unique financial challenges. Parents must coordinate expenses such as school supplies, extracurricular activities, and medical bills. Effective communication and detailed agreements can help manage these shared responsibilities. Tennessee law allows modifications to child support orders if significant changes occur, such as shifts in income or parenting time.
Adapting to evolving family dynamics
Shared parenting agreements reflect the evolving nature of family law. These arrangements prioritize the child’s well-being by promoting balanced involvement from both parents. Adjusting child support models to fit these dynamics ensures financial fairness while addressing the needs of children and their families.
