Does The Payment Of My Children's Health Insurance Grant Me Credit For Child Support?
Divorce cases are increasing at an alarming pace and so are the issues related to the child custody and monthly payments surrounding it. It is never a smooth going when it comes to deciding upon the financial responsibility of a non-custodian parent toward her / his child since numerous elements are at a play in reaching the actual amount.
Essentially, child support can be described as any or all of the expenditures to be sustained by the non-custodian parent in raising a child and it comprises child’s educative, medical, day care and even medical insurance payments.
A parent who is not in physical child custody must pay these child support expenses to other parent and amount is dependent on numerous things for example the parents’ income, their net worth, way of living before divorce, cost of living in a particular area and if a kid has any particular requirements. These have to be compensated until the kid grows to adulthood of twenty one years. The court’s order is a requirement and cannot be amended at the will of either parent as it could need a law suit in case any parent tries to altercate the divorce agreement linked to child custody.
A vital clause noteworthy here is Can I Get a Credit for Child Support for the Payment of My Children's Medical Insurance?
As every single state in US has got its unique list of regional regulations, the reply could be a yes or no based on factors listed below:
1. The health-related expenses are shared between the two parents based upon their earnings and it includes doctor bills, insurance payment and any kind of payment made towards the child’s medication.
2. Just one of the parents working is able to claim tax exemption by affirming his / her child dependent. This exemption can't be acquired by both mom and dad.
3. The parent must get her or his child insured with the health insurance coverage provided by her or his employer, in this case non custodian parent isn't meant to pay money for the health insurance plan payments of the dependent kid if company is bearing the full insurance charges and so its credit can't be obtained.
4. In the case of any extra health coverage given by the employer, the child has to be insured by it.
If provision 4 and 5 exists, there's no need for the parent to get a brand new health insurance policy since he / she will not be entitled to claim its credit according to child support plan as preexisting health policy is available and monthly payments towards it are done by the company and not the parent.
Certainly insurance is an extremely extensive section and contains many factors like accidental, home, car and life insurance policy. Only an experienced divorce attorney who has taken care of a range of cases could possibly help an individual in whole process of property settlements and insurance coverage issues.
It is really sensible to go for one’s divorce lawyer who can peacefully resolve matters of dispute of child custody triggering no sentimental strain on the child’s future. As parents it is obligation of the both partners that deal terms are respected without infractions in any respect.
For the specialists in this field in New York, remember to get in touch with well known Queens Divorce Help attorney David Shapiro and get a cost-free discussion on your argument.