When making a child support determination, a Maryland Circuit Court Judge or Family Magistrate will typically consider the monthly income and monthly child-related expenses of the parents. When seeking child support in Maryland, it is important to timely file and update your financial statement. A properly completed financial statement allows the fact finder to consider your resources and expenses when calculating child support and potential child support arrears.
What Is a Financial Statement in Montgomery County, Maryland and Prince George’s County, Maryland?
There are two different types of financial statements in Maryland child support cases. A short form financial statement, is a brief statement of your current income, and general monthly child related expenses. A long form financial statement, is a more in depth look at the overall monthly expenses for you and your children. Regardless of whether you complete a long form statement or a short form statement, it is important that you take the time to fill out your statement as accurately as possible.
What Should You Keep in Mind When Completing a Financial Statement in Maryland?
Complete financial statements can serve as evidence of your ability to support your child. Because records reflect your personal finances, it is important to have supporting documents available to verify your statement. Changes in personal circumstances, such as a new job, marriage, divorce, or new residence, or changes in the amount of the income or child-related expenses, can materially impact your child support obligation. If you have a child support case pending, and you have any changes to your monthly income or expenses, you should also consider updating your financial statement to reflect your current economic capabilities.
When it comes to statements in Maryland child support cases, completeness and accuracy matter. It is important for you to be as realistic and thorough as possible. If you are too extreme in your claim for expenses, the court may be inclined to disbelieve other assertions in your statement. Remember, a disproportionately large budget not supported by either an explanation or a correspondingly large amount of debt may be met with skepticism and distrust.
Contact an Experienced Maryland Child Support Attorney Today
Establishing or modifying a child support determination can be difficult, complicated, and emotionally stressful for both parents. You and your child deserve to have your child support claim presented clearly and accurately. A properly filed financial statement in Maryland, can help the Judge or Family Magistrate understand the resources available to support your family. If you find it overwhelming or otherwise find you do not have the time to accurately prepare your statement, we are always hereto help guide you through completing your statement.
Our firm zealously represents clients throughout Rockville, Bethesda, Gaithersburg, Silver Spring, Takoma Park, Chevy Chase, College Park, Cheverly, Greenbelt, Oxon Hill, Hyattsville, Upper Marlboro, Largo, Bowie, and surrounding communities. Call us today at (301) 778-9950, or send us an online request for a consultation.