Tag: financial support for children

financial support for children

Divorce Tax Tips: 5 Most Common Divorce Tax Questions in Nebraska

March 13, 2024 / Children, Divorce Made Simple, Divorce Tips, Financial Support

Do I have to pay income tax when my ex-spouse and I transfer property or pay a property settlement per the terms of our divorce decree? No. The transfer of property (or payment of a property settlement payment) pursuant to a divorce decree is not taxable. However, you’ll want to keep in mind the future tax consequences of a subsequent sale, withdrawal, or transfer of assets that you received in a property settlement. Does the payment or receipt of child support impact my taxes? No. Child support is not taxed as income to the parent who receives it nor deductible

5 Common Misconceptions About Child Support in Nebraska

December 4, 2018 / Children, Divorce Made Simple

In Nebraska, child support is calculated by using a mathematical formula established by state law. While determining child support is an inevitable issue to be resolved in divorce involving minor children, many parents may not understand the specific nuances of child support. For example: How can child support be spent? Am I responsible to pay for anything else beyond my monthly payments? When does child support begin and end? Answers to these questions often surprise divorcing parents. Below are five common misconceptions about child support in Nebraska. Misconception 1: If my ex-spouse and I share joint custody, no child support

How is Child Support Affected by Parenting Time?

September 11, 2018 / Divorce Made Simple

In Nebraska, the amount of parenting time with your children directly affects the amount of child support you will receive or owe to your former spouse. Generally speaking, the more parenting time, the more child support you will receive. Here are answers to three frequently asked questions regarding how parenting time affects child support: How Is Parenting Time Calculated? For the purpose of calculating child support, parenting time is defined by the total number of “overnights” that a parent has with the children during a year. For example, if you and your former spouse share an equal amount of parenting

Important Post-Divorce Actions

July 31, 2018 / Divorce Made Simple

To ensure a smooth transition into your post-divorce new normal, your Koenig│Dunne team has identified the following important actions for you to take: Informational filing. If support (child support and/or alimony) has been ordered in your case, Nebraska law requires you to provide the clerk of the court with your address, telephone number, social security number, employer, and certain information related to employer-provided health insurance. If any of this information changes after your divorce is final, you must provide the updated information to the clerk in your county. Property actions. If you and your former spouse owned a home and

What is a Child Support Deviation?

July 3, 2018 / Divorce Made Simple

In Nebraska, child support is determined by following the Nebraska Supreme Court’s child support guidelines. These guidelines are applied as a rebuttable presumption, meaning they are to be followed unless one parent provides evidence, or the court decides the guidelines should not apply under the specific circumstances. When this happens, a deviation has occurred. The Nebraska Child Support Guidelines provide five instances where deviations are permissible: When there are extraordinary medical costs of either parent or child; When special needs of a disabled child exist; When total net income of the parents exceeds $15,000 monthly; For juveniles placed in foster

What is a District Court Referee?

May 29, 2018 / Divorce Made Simple

While most family law cases in Nebraska are heard exclusively by Nebraska district courts, a small number of family law cases are instead heard by district court referees, often referred to as child support referees. Who is a District Court Referee? District court referees are attorneys who have been appointed by Nebraska courts to provide rulings on certain family law issues. They are typically longstanding practitioners who have a great deal of experience in family law. A district court referee listens to evidence presented by parties at trial, similarly to a district court judge. What Type of Cases Are Assigned

Securing Your Support Payments

April 10, 2018 / Divorce Made Simple

Your divorce may result in the court ordering two types of support payments – child support and/or alimony. One way to ensure court-ordered is paid in full is to request the payor (the person ordered to pay support) to maintain a life insurance policy. The recipient should be named the beneficiary of the policy and the amount of the policy should be sufficient to satisfy the full amount of support ordered in the event the payor dies. Every support award is comprised of two factors – amount & duration: Alimony: If alimony is awarded in your case, you will know

What is a Child Support Abatement?

March 27, 2018 / Divorce Made Simple

The Nebraska Child Support Guidelines provide for adjustments in child support if the parent paying support has 28 days of parenting time or more in any 90-day period. This is known as a child support abatement. Adjustments to a parent’s child support obligation can also be made if that parent’s parenting time substantially exceeds an alternating weekend schedule. An example of when an abatement would be appropriate could look like this: Mother has physical custody of the parents’ two children. Father pays child support to Mother. Father has routine parenting time every other weekend and one overnight per week. During

What is the Tax Dependency Exemption and Who Should Get It?

October 31, 2017 / Children, Divorce Made Simple, Financial Support

The federal government allows taxpayers to exclude from their income an exemption amount for each person who is a dependent of the taxpayer for that taxable year. You can claim a tax dependency exemption if you are a parent who provides support to a dependent minor child. But what happens after divorce when you no longer file joint returns? In Nebraska, the tax dependency exemption is considered an economic benefit similar to an award of child support or alimony. If the parents do not agree how the exemption should be allocated, the judge hearing the divorce case has the power

How to Modify Your Child Support Order

August 22, 2017 / Children, Divorce Made Simple, Financial Support

In Nebraska, once a child support order is entered, it remains in effect until the minor child reaches the age of majority (19 in Nebraska), dies, remarries, becomes emancipated, or until further order of the court. “Until further order of the court” means that child support orders are modifiable, that is, they can be changed. The Nebraska Child Support Guidelines sets forth rules as to when the court can modify child support. First, the parent must show to the court that there has been a material change in circumstances that affects the child support calculation. This will usually be a

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