Minnesota Child Support: Shared Income Formula

In 2005, the Minnesota legislature amended the state’s child support guidelines and adopted a new formula to calculate child support obligations. This new formula, known as the income-shares or shared income formula makes it necessary to take the combined gross (i.e. pre-tax) monthly income of both parents into account in order to come up with… Read more »

Recession Takes its Toll on Child Support

The recession has really hit home. In family courts across the country, a surge of parents stung by the economy are coming back to plead for a reduction in their child support payment obligation, and it’s affecting the courts as well as the kids. Take Action The courts are being flooded with modification cases. If… Read more »

The Economic Crisis: Foreclosure in Divorce

The skyrocketing foreclosure rate is hitting divorcing couples hard. For the average divorcing couple the expense of maintaining two households, where there had been only one, is a financial challenge even in good times. Throw in a job loss, ballooning mortgage payments and overextended credit obligations, and the odds of facing a mortgage default goes… Read more »