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« Custody and non-biological parents | Main | Planning for your child's future »

June 25, 2007

Would $25,000 per month in child support be enough for you?

Rapper 50 Cent is back in court for a child support modification hearing.  He currently pays approximately $25,000.00 per month to the mother of his ten year old son.  Perhaps you are wondering what 10 year old needs that kind of money to meet his expenses.  Child support is determined based on the incomes of the parents of the child.  This is due to the presumption that parents who earn more, then spend more on their children.  The use of child support guidelines sets up the presumption for the correct amount of child support.  This number takes into account not only direct costs such as food, clothing and daycare costs, but also the fact that the parent has higher housing and transportation costs than a single person would.  Both parents are obligated to support their child, regardless of whether they have custody or are having visitation.   

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Listed below are links to weblogs that reference Would $25,000 per month in child support be enough for you?:

» How Much Child Support is Too Much-Ask 50 Cent from New York Divorce and Family Law Blog
Rapper 50 Cent is seeking a modification of the order which required him to pay $25,000 as child support for his son. According to ABC News, the mother says this amount is inadequate, particularly since 50 Cent earned $33 million... [Read More]

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