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How Important is Financial Stability in Custody Decisions?

Financial stability is a factor when the court makes custody decisions, but do not worry if your spouse has more money and riches than you. This is not going to be the only factor considered when custody decisions are being made. You can still be in your child’s life or gain primary custody even if your spouse makes more than you. Our Morris County, NJ child custody attorneys can help you make the most convincing argument.

Is Financial Stability the Most Important Factor in Custody Decisions?

The most important factor in a custody decision is the best interests of the child or children. So financial stability is definitely important, but you are not going to be denied custody simply because you make less money than your former spouse. As long as you are not on the brink of homelessness or unable to provide for the needs of your children, financial stability is rarely the deciding factor in cases like these.

Another thing to remember is that the parent with fewer resources is also likely to receive alimony and child support. This can help a parent who sometimes struggles financially and make money less of an issue.

What Other Factors Can Be Considered?

The court will also look at other elements before making any formal custody decisions. Factors that could end up making a big difference include:

  • The relationship between the child and each of their parents
  • If a parent has a criminal history
  • If a parent has struggled with alcohol or substance abuse
  • How each spouse contributed to the parenting responsibilities before the divorce
  • The health of each parent
  • The ability of each parent to give their child access to educational and extracurricular activities

In some cases, the court can also take a look at the financial situation of each spouse and how much each of you has to work. If your ex makes far more money than you but works at a stressful job with longer hours, you may be seen as a better fit for the custodial parent role.

Can a Family Lawyer Help Me?

A family lawyer can help you highlight the qualities that make you look more deserving of child custody. We can argue on your behalf and build a convincing case that either proves your financial stability or makes the argument that you can be an ideal custodial parent even if your ex has access to greater financial resources. We can also help guide you and your former spouse through alternatives to litigation, like mediation or arbitration sessions that can make it easier to arrive at an agreement that both parties can accept.

Contact Our Law Firm

If you are negotiating a custody agreement, don’t go it alone. Contact Townsend, Tomaio & Newmark, L.L.C. and schedule a consultation with our team. We will do everything possible to advocate on your behalf and help you fight for custody.