When you file for divorce in St. Mary’s County, Maryland, financial disclosures are among the required documents that must be filed. Maryland divorce court requires that this be a joint statement of finances, but occasionally, the spouses cannot agree on the disclosures, so two statements are filed.

Whatever the manner of filing, the disclosures serve an important role in all aspects of the divorce proceedings. Concerning child custody and support, the Maryland divorce court will use the financial disclosures to determine the amount (and split) of child support payments and obligations and will use the disclosures in evaluating various factors related to who should have custody and visitation rights.

Maryland Financial Disclosure Statements and Child Custody

As noted, financial statements are used by Maryland divorce courts when they consider questions of custody. The courts must evaluate about a dozen factors that are deemed important in deciding how child custody is handled. Some of those factors are financial factors, including:

• Financial ability to have physical custody
• Material advantages for the child/children if custody is awarded to a given parent
• Differences in material and financial abilities between the parents
• Ability to maintain a permanent residence for the child/children
• Etc.

The basic information for these factors comes from the financial disclosures (as supplemented later in the divorce proceedings)

Financial Disclosures and Child Support Obligations

In Maryland, child support obligations are determined by the income of the parents. This basic information is provided to the divorce court in the financial disclosures. The basic formula is that the total amount of child support is listed in the guidelines set out in the Maryland divorce statutes. These Guidelines are in a grid format where the total income of the parents is cross-referenced with the total number of children. Where the column and row meet is listed the total amount of child support owed by BOTH parents. From there, the total amount is apportioned between the parents based on each parent’s percentage of the total income. So, in basic terms, a parent making 75% of the income will pay 75% of the child support. The parent awarded physical custody will “pay” their portion of the child support by providing housing, food, clothes, transportation, etc. The other parent “writes a check.”

Judicial Efficiency

Since so many aspects of a Maryland divorce require financial information, having the spouses file financial disclosures at the beginning makes divorce proceedings more efficient for the courts.

Need Help With Your Divorce or Child Custody Case?

If you have questions about Maryland child custody and support, call the Law Office of Robert Castro at (301) 870-1200 or use our contact page. We are aggressive and deeply experienced Maryland family law and divorce lawyers who can help with any custody or child support legal problem.