Whenever a couple is getting divorced, it can become a strenuous situation. The emotional and financial toll of the divorce process can weigh heavily on both spouses, especially when it comes to child support. This is perhaps the most essential aspect of any divorce agreement. Not only is the best interests of the child paramount for the parents, but it is also the primary concern of courts in the state of New Jersey regarding child custody cases. When it comes to determining the appropriate amount of child support to be paid, New Jersey courts will take into account a wide array of factors relevant to the case. Of course, one of the most important factors in determining child support is family income. For richer people, that will mean paying more in child support compared to other people with lower incomes. If you and your spouse are thinking about getting a divorce, please contact the Sparta divorce attorneys at Paris P. Eliades Law Firm, LLC for more information.
How is child support determined for richer people?
The most important element when it comes to determining child support is the needs of the child. Financial stability is essential to making sure the child’s quality of life can be maintained. Divorces can already be very difficult on a child; the last thing the parents or the court wants is for this to be further exasperated with potential financial struggles. Because of this, there is a multitude of key factors that must be taken into consideration regarding appropriate payments for child support, such as:
- The family’s standard of living
- Special needs of the child
- The number of children
- The age and health of both spouses
- The level of education achieved by both spouses
- Collective Income
It is crucial to keep that last point in mind, because for richer people, that may mean paying more in child support. In the state of New Jersey, families with a collective income exceeding $187,200 fall under the category of high-income families. While standard child support in New Jersey usually tops out at $187,200, wealthier families with a collective income greater than that amount do not necessarily have any limitations when it comes to determining child support. Because higher incomes are typically associated with higher spending, the court would have to decide what the fair amount of child support would be based on evidence of the child’s lifestyle prior to the divorce.
Navigating the divorce process can be difficult, especially for wealthier spouses when it comes to figuring out child support. Having a dedicated divorce attorney working on your behalf will ensure that the process goes as smoothly as possible.
