New Jersey Divorce Lawyer-High Income Couples
This guide provides information about the related family law matters of divorce, child support and alimony for high income couples in the State of New Jersey, one of America's richest states.
MY SPOUSE AND I EARN A COMBINED INCOME OF OVER $250,000 PER YEAR, HOW WOULD CHILD SUPPORT BE CALCULAAs a divorce lawyer in Jersey City, the closest city/town to Manhattan, many clients along with their spouses earn over $250,000 per year. The child support guidelines that are currently in effect only address incomes of less than $200,000, leaving people wondering how to calculate child support in excess of the guideline maximum which is less than $200,000 per year in combined income. If the parties have comparable incomes and/or close to a shared parenting plan, alimony may not be a factor but child support is. Some Judges only calculate the child support number up to the maximum allowed by the guidelines, this is wrong. Additional support should be calculated to reflect the needs of the child which exceeds the maximum guideline number in that the child's lifestyle should be close to that to the higher earner's lifestyle as if the child lived in that home. While there is no easy way to do so, that is no excuse to not go above the child support award calculated in the New Jersey Child Support Guidelines.
WHAT IS THE DIFFERENCE BETWEEN ALIMONY AND CHILD SUPPORT IN NEW JERSEY?Alimony is usually to keep the non-breadwinner spouse at par or close to at par with the marital lifestyle led during the marriage. Alimony is taxable income to the payee and tax deductible to the payor. Child support is automatic in the sense that a case for child support must not be made before the court, while alimony is not automatic and must be proven. Furthermore, child support is tax free and is never tax deductible.
WHEN DOES CHILD SUPPORT END?In New Jersey, child support ends when the child leaves the parent's sphere of influence which could be at 18, or it can be as late as 23. If a child works full-time, that could be a time to seek an emancipation/termination of child support. If a child goes into the military, the child is emancipated. If the child gets married, that is also another emancipation event or if the child does not live at home.
IF WE HAVE TWO CHILDREN AND ONE IS EMANCIPATED, IS CHILD SUPPORT AUTOMATICALLY CUT IN HALF?No. When the emancipation event occurs, child support will be recalculated to reflect the incomes of both parents for the recalculation of child support.