How are Child Support Payments Determined in New Jersey?
Parents who are going through a divorce must settle new arrangements for their children. The state of New Jersey requires both parents to financially assist their child until a certain age. This is possible through child support payments. It is important to know that the amount owed is determined not by the parents, but by the court. When dealing with these matters, it is important to have the help of an experienced New Jersey family law attorney.
Can Custody Affect Child Support?
There are two factors that can determine child support. This can include the percentage of time a supporting parent spends with their child and if they have shared or sole custody. If a supporting parent has shared custody of their child, they may spend at least 28% of overnight time with their child each year. If they do not have partial custody, they may spend less time with their child.
How is Child Support Calculated?
Not every child support case is treated the same, which is why there is no predetermined amount that is owed in custody. Instead, it is calculated by the New Jersey Child Support Guidelines to determine a fair amount based upon the family’s financial situation and what they can provide for their child. The formula applies to families with a combined yearly income between $8,840 and $187,200. Their income is then calculated with the child’s cost of living to determine an amount that allows a stable upbringing.
Factors to Consider
It is important to remember that not every family falls into the spectrum determined by the guidelines. This may be for a variety of reasons. In these situations, the court considers a variety of factors relating to the family in order to determine child support. This can include the following:
- The financial status of each parent
- Who has physical custody of the child
- Any income, debt, and assets of each parent
- Each parent’s earning capacity
- Each parent’s work history
- The child’s needs
- The child’s age/health
- The child’s education
- The cost of providing for the child
Contact Our Firm
If you need an experienced legal team to guide you through your divorce, contact Townsend, Tomaio & Newmark L.L.C today.