New Jersey residents may be interested in knowing about some of the issues that are considered when it comes to modifying child support. When determining where the children will live, how the kids’ time will be divided between their parents and if one person will need to pay child support, the courts consider the circumstances of each family. They have quite a bit of leeway since most child support solutions are not one-size-fits-all.
Child support is designed to even out the burden of caring for a child’s needs and maintaining his or her standard of living. Some of the factors that the courts examine include how much time the children spend with each parent; how much income each parent earns; and who pays for things like school expenses, child care, and health insurance. Child support is almost always modifiable.
There are circumstances that may necessitate a change to child support in the future. For example, one of the parents may receive a large inheritance or begin to earn a substantially larger amount of money. Someone may have a negative change in his or her circumstance, like losing their job. The courts may look at these changed circumstances and modify child support payments.
People should be aware that child support payments do not affect their taxes. The individual who received child support will not be taxed on the money. The person who paid the money cannot deduct the amount from his or her taxes. The main tax implication of split custody arrangements is that only one individual can claim the child as his or her dependent.
Many questions arise when a couple divorces and must deal with child custody issues. People may want to consult with a family law attorney for help navigating their way through these issues. Lawyers may even represent their clients in court if necessary.