If you are going through a divorce and have children, there is a good chance that you will need to deal with child support issues. These issues can be incredibly divisive, and many people do not even know how the court decides on child support. Here are five important factors that go into child support decisions:
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In any divorce where one parent is given primary custody of a child, the question of child support will inevitably arise. The decision of a judge to award child support is a major one, which can have significant financial consequences for both spouses. But what exactly is child support, and when does a judge decide that it is appropriate?
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Child support is the payment awarded by the court to a custodial parent from a non-custodial parent to cover the costs of raising and caring for a child. In any divorce where child custody comes up as an issue, it will almost always follow. If you are in a divorce proceeding and you are concerned about this subject, you should keep these five things in mind: Continue reading “Five Things You Should Know About Child Support”
Oftentimes, parents seeking to contribute to their child’s higher education are unaware of how child support may be impacted. In New York State, child support is based on a pro-rata (fewer deductions) share of parental income for the first $80,000 of combined income. Once you have the pro-rata share, the state applies a statutory percentage of income as follows:
Over the last two years, New York State has enacted new legislation, forms, and rules aimed at providing more efficient and effective adjudication of matrimonial matters. Parties of matrimonial actions in New York Supreme Courts now have a greater access to legal services and more protection of confidential information. In 2016, the changes accounted for a significant change in the process and the practice of matrimonial law in the state.
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