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Charlie Sheen, exes agree to reduction in child support payments

On Behalf of | Sep 8, 2016 | Uncategorized |

While parents in Boulder County may prioritize the paying of child support amounts owed, the periodic amounts themselves are not always set in stone. This is because the overarching principle in setting child support payments is the best interest of the child. There are situations that might result in a change in periodic child support payments.

The case of actor Charlie Sheen is an example of when an adjustment in child support payments could be warranted. According to press reports, Sheen and his ex-wives have agreed to a 55 percent reduction in the amount he must pay them in child support each month. Formerly, he was required to pay $55,000 per month in child support to each former spouse, according to sources. Now, he reportedly only pays $25,000 per month to each.

Why the drastic reduction in child support obligations? According to press reports, Sheen’s monthly income has been drastically reduced. Meanwhile, his monthly expenses have gone up as he faces mounting legal bills and health care expenses. Very often, when a paying parent has to deal with a significant change in circumstances, such as a decrease in income or an increase in expenses, the parent may seek to reduce the amount of support paid. Had things gone the other way, such as a large increase in income or a reduction in expenses, there may be a case to make for increasing the amount of child support paid.

Obviously, most Colorado parents do not have the high income or high expenses or Charlie Sheen. Still, regular folks do experience the routine ups and downs of life, and these may warrant a change in child support payments if a significant change in circumstances has occurred.

Source: Page Six, “Charlie Sheen slashes child support payments in half,” Jessica Sager, Aug. 29, 2016