When a couple chooses to divorce, it is not just about dividing the marital assets and going their separate ways. When children are involved, the court will want to ensure they are taken care of properly. This involves making sure that the non-custodial parent provides a reasonable amount of child support in Sullivan, Indiana. Here are some of the factors that are addressed in order to ensure the rights of the child are protected.
Monthly Financial Support
The foundation for the child support in Sullivan, Indiana is the monthly amount that the non-custodial parent provides to the parent who has physical custody of the child. These funds are intended to help with ongoing expenses related to food, clothing, and shelter. The goal is to ensure that the money is there to make sure the child does not go without anything that is considered necessities of life. Typically, this amount is determined by the court based on processed currently defined by the laws of the state, and will include consideration of the income levels of both the custodial and non-custodial parent.
Health Insurance Coverage
Another element of the support is often providing health insurance for the minor child. The non-custodial parent may carry the child on an insurance plan provided by the employer, or secure a stand-alone plan specifically for the child. Depending on the terms of the custody agreement, the non-custodial parent may or may not be responsible for any co-pays or deductibles that apply to any medical treatments necessary.
Life Insurance
Until the child reaches the age of majority, many child support arrangements call for the non-custodial parent to maintain a life insurance policy that is worth at least a certain amount. The custodial parent is named as the beneficiary of the policy. In the event that the non-custodial parent should die for any reason before the child reaches adulthood, the funds from the insurance policy will ensure that all needs of the child are met.
For those who would like to learn more about how child support is calculated and what elements are considered, speak with the team at the Feavel Law office. Doing so will be the first step in making sure that the children do receive the financial support needed to enjoy a reasonable standard of living.
