Divorce is happening. Whether you initiated the divorce or it came as a complete shock, you still need to start planning for your post-divorce life. Divorce takes a financial toll on both spouses, and if you have children, child support may be a new monthly expense you must face.
How do you know if you owe child support and how is it calculated? The answer to the first question is relatively simple while understanding the latter will depend on your child custody arrangement, your state of residence, and a variety of other factors. Let’s take a look at this complex topic so you can start preparing for the cost of child support if needed. We also recommend that you take a look at our Four-Step Divorce Financial Recovery Guide.