Parents are responsible for financially supporting their child, even if they are no longer in a relationship with one another. This means that, following a divorce, the custodial parent provides financial support to the child by having the child in their care, and the noncustodial parent will contribute to the child's financial needs by paying child support.
Like many other states in the nation, Colorado has statutory guidelines that outline how much child support a parent will owe. Parents can agree on an amount of child support out of court, but, if they deviate too much from the statutory guidelines, the court may not approve the agreement. There are certain factors a court will consider in addition to the statutory calculations of child support
One factor the court will consider is the child's financial resources. Another factor is the custodial parent's financial resources. In addition, the court may consider the noncustodial parent's financial resources and needs. The standard of living the child had while their parents were married is a third factor. The child's physical and emotional health is a factor, as is the child's educational needs. Finally, the court may consider any other relevant factors when calculating child support.
Child support in Colorado can cover several expenses related to raising the child. In addition to providing for the child's basic needs, child support can cover expenses related to child care and health care, educational expenses and costs related to travel. Health insurance coverage can also be included in a child support award. In the end, it is important that children in Colorado have their financial needs met, even if their parents are divorced. When both parents contribute to financially supporting their child, it can help their child adjust to life post-divorce in a healthy manner.