If you have questions or concerns about child support, read on for an overview of the process in New York.
What is the Child Support Standards Act?
The Child Support Standards Act puts a system in place to help courts determine a child support agreement that will serve the child’s best interests. The formula for calculating child support in New Jersey is based on a percentage of the combined income of each parent and the number of children that require financial support. If the combined parental income exceeds $143,000 the court will apply the following child support percentages:
- One child- 17%
- Two children- 25%
- Three children- 29%
- Four children- 31%
- Five or more children- at least 35%
In addition, a judge will consider some of the following factors:
- Assets and liabilities
- Income
- Financial resources
- Earning capacity
- Education level
- Tax implications
- Basic needs
- Age
- Financial resources
- Academic needs
- Health
What does child support cover?
For the most part, child support is paid to the custodial parent by the non-custodial parent. The custodial parent is the parent with whom the child resides for the majority of the time. This involves providing the child with a home, food, clothing, education, and more. Child support is intended to help support the needs of the child. Some of these needs include:
- Basic necessities
- Medical care
- Educational fees
- Childcare
- Transportation/travel
- Entertainment
- Extracurricular activities
- College expenses
When does child support end?
Generally, child support payments end when a child reaches the age of emancipation and is able to support themselves financially. In the state of New York, this age is generally 21 years old. That being said, parents are often required to assist their children with higher education if the child chooses to go to college. There are other circumstances that may determine whether child support is terminated early or extended. For example, child support may be ended early if the child gets married, joins the military, etc. It is important to understand that in order to end child support payments, you will need permission from the court. Failing to pay child support can lead to serious legal trouble.
If you have any additional questions, do not hesitate to reach out. Our firm is here to walk you through the process, every step of the way.
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