Child support is a topic that often comes up in divorce cases, but what happens when the parents are among the top 1 percent in wealth? The recent divorce of Kim Kardashian and Kanye West has raised the question of whether or not child support payments can be considered “too much” for the top 1 percent.
As the couple’s net worths are in the hundreds of millions, reports have surfaced that West is paying Kardashian $200,000 per month in child support for their four children. This amount is certainly a significant sum, but is it fair to consider it “too much”?
Child Support Guidelines
Child support guidelines determine the amount of financial support a parent is responsible for providing their children. These guidelines are typically established by state laws and take into account factors such as:
• The income and resources of both parents
• The needs of the child or children
• The time each parent has with the child or children
“Determining child support payments typically begins with calculating the non-custodial parent’s income,” says family lawyer Matthew Dolan. This income is then used to determine the basic child support obligation, the amount the non-custodial parent must pay the custodial parent for the child or children.
A clear example of this was seen in the Kim Kardashian and Kanye West case, where the court, upon consideration of the income of both parents, awarded $200,000 in child support to be paid by KanyeWest monthly. Here, the parents were required to submit documents detailing the cost of the kids’ activities, all of which will be considered when arriving at the total child support amount.
Several factors come into play when deciding what should constitute child support and differ based on the applicable laws. These factors include the child’s needs, the standard of living, the income and assets of each parent, earning ability, and other relevant factors. The concept of relevant factors varies and is sometimes decided by the court based on the peculiarities of each case.
A careful case analysis is key to getting the appropriate child support. It is always best to have an expert attorney handle the case, as they will provide a detailed analysis before it gets to court.
The “Three Pony Rule.”
The “Three Pony Rule” states that one parent being extremely wealthy does not mean their children are entitled to more than “three ponies.” This means that the dominant factor considered, even when parents have extreme wealth, is the child’s reasonable needs. Crafting a child support award should focus on the established lifestyle of the children rather than solely on income.
In the case of Kardashian and West, the children’s needs are being met, and the support payments are reasonable. This is because of their lifestyle and the values of their parents. While $200,000 per month may seem huge, it is in line with the guidelines set by the court and accounts for the children’s needs.
Conclusion
Child support payments for the top 1% may seem excessive to some. However, it is important to consider the lifestyle of the children rather than solely the parents’ income. In the case of Kim Kardashian and Kanye West, the child support payments are reasonable and in line with the court rules.
