The Child Tax Credit came into existence with the 2018 Tax Cuts and Jobs Act. Taxes need to be considered when negotiating a divorce when there are children. Previously in divorces, parties considered who would claim the children as dependents on an income tax return. The Rhode Island Child Support Guidelines suggests that the custodial parent would claim the exemption.
Many Rhode Island residents enter the divorce process with specific goals in mind. For some, the goal is to keep a certain piece of property. For others, the goal is to obtain a particular child custody arrangement. And, for many, the goal is to make sure that any child support order is fair. But, what is the main goal of child support?
Managing summer planning for children after a divorce can be difficult. Whether you are paying or receiving child support, allocating money for summertime pleasures may be hard. First, you need to plan in advance to determine the days and/or weeks that you will have a child/children with you. Then you need to plan for those days and weeks.
Raising a child can be extremely expensive. Paying for the mere basics, including food and clothing, can make a massive dent in parents' finances, especially considering these expenses will need to be paid for at least 18 years. And this doesn't even consider other costs, such as schooling expenses, extracurricular expenses, and medical costs. Children are worth it, but that doesn't make the financial realities of raising them any easier, especially when one parent is a child's primary caregiver. This is why child support is so important for both custodial and noncustodial parents.
A Rhode Island divorce can raise a whole host of legal issues. Barring the existence of a prenuptial or postnuptial agreement, parting spouses will likely need to address property division, spousal support, child custody, and child support. The battle over these issues can be heated, and those who fail to protect their legal rights can be taken advantage of. Reversing the course of an unfavorable outcome can be difficult too, so those who are being confronted by these family law legal issues need to ensure that they are prepared to do so competently.
When parents in Rhode Island divorce, the noncustodial parent in general will pay child support to the custodial parent. However, this is usually not the end of the story. Life is rarely static; indeed it is ever-changing. For example, a parent could see a significant increase or decrease in their income. In other cases, new children may be born to one ex-spouse or the other after their divorce. In addition, a person's living arrangements may change, even years after their divorce.
Parents in Rhode Island paying child support have many options to do so. One of these options that may be convenient for some is paying child support via direct deposit. Through direct deposit, the child support funds will be electronically tranasferred from the paying parent's bank account to the receiving parent's bank account.
Parents in Rhode Island who are getting a divorce may be under the assumption that the only way child support will be determined is through a child support order following a court hearing in front of a judge. What they may not know, however, is that, with attorney representation, they may be able to come to a child support agreement through negotiations. Keep in mind, however, that even if a child support agreement is made out-of-court, most states require that the agreement be approved by the court to confirm that it is in compliance with that state's child support guidelines.
Many parents who are paying child support in Rhode Island live up to their financial obligations. However, some of them may someday find themselves facing unexpected financial hardships. When this happens, they may wish to modify their child support order.
As most Rhode Island residents know, in order to travel abroad a person needs a valid passport. Those who do not have a valid passport will not be allowed to leave the country.