The State of Texas reevaluates its child support calculations every six years, and this year, they are adjusting the cap limit for inflation. The new calculation method will be imposed on September 1, 2019, and those whose annual incomes are more than $150,000 a year (high earners) are subject to this increase. The best way to make sure that your child support arrangement is fair and in compliance with the law is to have it reviewed by a family law attorney in Killeen as soon as you can.
The paying parent’s net resources are an important component in Texas’s child support calculations, but the state puts a cap on the amount of monthly income included in the formula. On September 1, the net-resources cap changes from $8,550 to $9,200 per month. There are also other considerations that factor into this calculation, including child support payments made for other children.
If your divorce has yet to be finalized (and is not finalized before September 1), the child support you receive will be calculated according to the new formula, and your payments will automatically be predicated on that formula. If, on the other hand, your divorce is finalized a few days prior (or was finalized any time prior), you may still be eligible for an increase in child support payments, but it will not be automatic. If the child support payments you currently receive were ordered by the court, you will need to initiate a modification proceeding requesting that the new cap be applied to your child support payments.
Child Support Agreements
If you and your ex came to an agreement regarding child support payments based on the calculation method of the time, you may still be eligible for an increase in those payments, but you will need to demonstrate that you have experienced a substantial change in circumstances. Such changes in circumstances are often related to significant life changes, such as:
- Your living arrangements with your children have changed.
- You have experienced changes in your children’s medical insurance or in its coverage.
- Your child has developed new medical, psychological, or educational needs.
If you have experienced a substantial change in circumstances, you may be entitled to increased child support payments – even if you agreed upon the payments you are currently receiving. The fact is that life is not static, and the State of Texas recognizes that child support needs to evolve in accordance with the changes that people experience in their lives.
If You Are Interested in How New Child Support Calculations May Affect You, an Experienced Attorney Can Help
Child support is a critical component of every divorce involving children. The State of Texas regularly updates its calculation formula to account for shifts in the economy, including inflation. If you believe the current change that affects high earners pertains to the child support you receive, attorney Brett Pritchard at The Law Office of Brett H. Pritchard in Killeen, Texas, is here to help. For more information, please do not hesitate to contact or call us at (254) 220-4225 today.