Attorney
Unless you’re working up at Los Alamos, you probably thought the last time you would need to plug numbers into a formula and solve for x was college — or maybe even high school. But if you are splitting up with your child’s other parent, you are about to learn a whole new kind of math.
In New Mexico, child support is calculated by inputting information about you, your former partner, and your child (or children) into a worksheet, and seeing what number it spits out. Attorney Bob Matteucci can guide you through this process to ensure the math is mathing, and your children get the support they need to thrive.
e=mc²
The New Mexico statutes (specifically NM Stat § 40-4-11.1) include a complex formula that sets child support payments for all families in the state. Policy makers periodically update the law to keep up with the cost of living and changing views about what level of financial support is necessary to ensure a child can thrive.
The factors currently considered as part of New Mexico’s Child Support Guidelines include:
- The gross income (before taxes) of each parent
- The time each parent spends with and is responsible for the child
- What the government sets as the poverty line
- The number of minor children shared with this former partner
- Court-ordered child support paid by either parent to another family
- Childcare costs
- Health and dental insurance premiums
- Extraordinary medical expenses, including those for counseling
- Educational expenses
- Travel and communication expenses if a child’s parents live a long distance away from one another
a2+b2=c2
Rather than forcing parents to bust out a calculator and start doing some statutory interpretation, the state has created some worksheets that you can use to plug in your family’s information and get a child support plan the courts will likely approve.
These worksheets can be completed on your own, but working with an attorney will ensure your child’s best interests are accounted for, and there are no mistakes that might cause the judge to delay the resolution of your case.
y=mx+b
Using the worksheets to calculate child support payments is a fairly straightforward process if you and your child’s other parent are both W2 employees and you have a straightforward custody agreement.
But things can get complicated if one or both parents are self-employed or are in another profession where income can vary from year to year. We have also seen situations where a parent received illiquid compensation or was deferring compensation now in order to build up their assets. Bob is often asked to handle child support cases involving complex financial issues because of his business background and MBA degree.
Serving Families with Dignity & Compassion
You don’t have to understand the theory of relativity in order to use New Mexico’s child support worksheets to calculate your child support payments. But you do need to have a firm grasp on your family’s finances, a solid custody agreement, and a shared vision for your child’s future education and healthcare needs. Attorney Bob Matteucci can help you nail down these factors and calculate a child support agreement that follows the state guidelines and meets your family’s unique needs. Contact him today to schedule a meeting and discuss your case.