Have you ever wondered how child support decisions are calculated in court? If you’re responsible for paying child support or if you receive support from your child’s parent, you might have thought about how child support is calculated in New Jersey. Many people wonder if richer parents are required to pay more in child support than the average person. To find out, read on or reach out to an Ocean County Child Support Attorney today!
HOW IS CHILD SUPPORT CALCULATED FOR NJ PARENTS?
In New Jersey, child support is determined based on a large number of factors. You must use a document called a child support worksheet to calculate each parent’s support requirement. The calculation is based on the number of children, the age of the children, each parent’s income, how many nights a year each parent will have the children, and health care expenses. The calculation process is pretty complicated and requires help from an experienced family law attorney or another professional. Generally though, first you need to find out the parents’ gross net income and adjust it based on tax deductions. Then, you figure out each parent’s percentage share of income and determine the children’s monthly health insurance expenses. Based on all of these numbers, the total child support amount can be calculated. The numbers can vary if you have any children with special needs or if one parent is receiving government aid.
HOW DOES CHILD SUPPORT WORK FOR HIGH-NET-WORTH PARENTS?
Child support for high-net-worth looks a lot different than it does for other parents. Under New Jersey law if the parents’ gross net income is over $187,000 per year, then the court is allowed to award the custodial parent (the parent that has majority custody over the children) an extra child support award based on their wealth. The goal of child support is to ensure that the children continue their normal standard of living even if the parents are separated. However, a high-net-worth parent can argue against any additional child support awards if they claim it infringes on their right to establish their child’s appropriate value system. In other words, a parent can reverse a court’s decision to require extra child support if they think the extra money would ‘spoil’ the children and therefore hinder the children’s best interests.
Looking for more information on child support in New Jersey? The Law Office of Sarina Gianna, LLC is here for you! Contact us today for quality legal counseling.