Oshkosh Divorce Lawyer
Finding an Experienced Oshkosh Divorce Lawyer
If you are searching for a skilled and experienced Oshkosh divorce lawyer, the law firm of Derr & Villarreal provides the answer with qualified, experienced and compassionate family law attorneys. You want to make the absolute-best decisions for your final settlement and we make sure that you have sufficient information to do just that. Among the numerous, complicated issues intrinsic to divorce, our attorneys will help you find the facts necessary for informed decision-making.
A perfect example is the issue of child support. All 50 states provide for child support although it is determined differently depending on the jurisdiction in which you live. Some jurisdictions (including Wisconsin) use a flat percentage of income guideline and others use a percentage model that varies. Wisconsin is a hybrid of both. Our Oshkosh divorce lawyer knows that if one parent has at least 25% of the total parenting time (determined by the number of overnights), child support will be determined by a formula that first compares the two parents’ incomes and then makes adjustments to determine the final amount. But, as a hybrid, it also has a flat percentage component. There is no comparison of incomes when one parent has less than 25% of the placement time. Support would then be calculated at the flat rate of 17% of gross income for one child, 25% for two children, 31% for three, etc. The Wisconsin state site which provides that information can be found at https://dcf.wisconsin.gov/cs/home.
Regardless of whether the support is based upon gross income or net income (roughly after taxes have been taken out), it is critical to accurately determine annual income. If the person is an employee who receives a W-2, determining someone’s income is straightforward. But when a parent owns their own closely-held business, it can be more complicated. (Generally, if it is closely-held, there is normally a limited number of shares held by just a few people who are connected to the company. In Wisconsin, many family farmers do business as closely held corporation.)
Our Oshkosh Divorce Lawyer Can Help
To get accurate information on income for a closely-held business, our Oshkosh divorce lawyer will ask several questions. First, what was the total amount the business generated? This would be the “gross revenue” of the business. Second, what amount was distributed or given to the parent and in what form? In determining income, it matters if the parent received money as a dividend, a draw or even a loan. Third, of the total that was not distributed and stayed in the business, what amount of that money was reasonably necessary to operate the business? While general rules apply, every business is different.
Remember, even after applying the guidelines, parents can do something different (a deviation) if it is unfair to one of the parties or you can negotiate a number that is fair to you. Derr & Villarreal will steer you through those difficult negotiations which are critical to your future. We always keep in mind that you are the final decision-maker. Without an experienced divorce attorney, some may decide even without even determining income. Some have made this expedient, rash decision because they just “wanted to get it over with.” While that produces some relief in the short-run, under or overpaying support can be disastrous for your entire family in the long-run. A top Oshkosh divorce lawyer like those at Derr & Villarreal can analyze income, property and all the facts of your case to help you negotiate a settlement that works for you.