Both parents have a legal obligation to provide financial support for their children. In Virginia, the specific breakdown of each parent’s obligation is based on the Virginia Child Support Guidelines, which create a presumption regarding the appropriate amount of child support in a particular case. Factors to be considered are the combined gross monthly income of both parents, the number of children for whom support is sought, the particular custody arrangement in place, and certain expenses incurred for the benefit of the children.
That said, the Virginia Child Support Guidelines establish only what is presumed to be an appropriate amount of child support in any given case, and either parent may argue that the amount of child support calculated pursuant to the Virginia Child Support Guidelines is inappropriate for his or her children and some deviation is appropriate. Terry Frank Law will work with you to ensure that all relevant factors are considered with the clear goal that you are receiving or paying what is fair under Virginia child support laws.
This personal financial statement template is a great tool to keep track of your personal assets, liabilities, income and expenses.