As the door is leaning toward its close on the income tax filing season, it may be beneficial to discuss how the dependency exemption on income tax forms may apply when parents with minor children divorce. In general, child custody issues are a matter of Florida law for people in the Sunshine State. But, the federal dependency exemption is governed under federal law.
Raising a child is a big responsibility. At times, single parents may feel overwhelmed by this duty. Even though one of a child's parents might not maintain physical custody, the non-custodial parent can still help take care for a child by maintaining support payments. Regardless of whether or not the two parents are married, a child support order may be put in place by a Florida court to help their child thrive.
When couples are preparing to split up, examining finances may become very important. This is especially true for couples who have children together. Without the benefit of sharing income -- or having a two-income household -- covering the costs of raising kids can become a challenge. This is where child support payments can be very helpful for the parent who has primary custody.
One of the goals of family law is to help provide a sense of stability to couples and their children after they are divorced. This is accomplished by splitting assets fairly and drawing up custody arrangements that reflect the best interests of the children involved. Although this seems like a simple concept, it can be much more difficult to put into practice.