Protecting Your Finances While Putting Your Kids First
What can I do to support my children financially while protecting my financial interests as well?
Your life is going to change dramatically after your divorce is final, and not just in terms of your living arrangement. Your financial standing is likely to shift as the expenses you once shared with your spouse now double.
For most families, child support is initially viewed as a burden — something one has to fight for or against in order to preserve financial security. At Weinberg, Kaplan & Smith, P.A., we believe our clients can walk away from these situations with a favorable outlook if the children are put first in every decision.
Children fare best when each parent is not facing an economic struggle. Our goal is to make sure our clients find a reasonable balance for their families, either through settlement negotiation or strength in courtroom proceedings.
One of our experienced Marlton attorneys can help you work through the challengers you face and find a reasonable, effective solution in child support and support modifications. We are here to help.
Determining Child Support
Child Support Guidelines are clearly outlined by New Jersey law, but these standardized calculations are not necessarily the final word in divorce proceedings. Some cases require a more personalized approach, at which point the court will consider circumstances and details involving:
- The needs of the child, including health care, educational needs or capacity, and living standards
- Each parent’s responsibilities in custody and child care
- Each parent’s financial security and economic standing, which may include earning ability, educational background and training, work experience, employability and the job market, and custodial responsibilities that influence employability
- The child’s income, assets, and earning ability
- Existing court-ordered support payments
Post-Divorce Modifications To Child Support
New Jersey law also recognizes that life rarely stays exactly the same after a divorce is final. People lose jobs, change jobs or industries, get remarried, or earn more income and can therefore contribute more to their child(ren)’s care.
It is crucial that you formally seek a modification to your child support agreement if you are struggling to make child support payments. Do not let your child struggle or jeopardize your own legal standing by not making court-ordered payments. Modifications also a valuable option if you need help with enforcement of existing child support orders.