The court also considers several additional factors, including:
- The age of the child or children.
- The physical and emotional health and needs of the child or children.
- The financial resources and earnings of each parent.
- The tax consequences for each party.
- Any non-monetary contributions each parent can and/or will make to the upbringing of the child or children.
- The educational needs of each parent.
- Whether one parent earns substantially more than the other.
If you are looking to change or modify your child support, it has to be because of a significant change in the lives of either party. That might include the loss of a job, getting seriously ill, etc. which would warrant a modification in child support payments. Whether you are looking to receive more support or looking to reduce the support you pay, it is important that you bring this issue to your lawyer right away because we can’t go back in payments to do a refund or ask for anything more from the past.
If the court says we can go ahead with the modification to the child support agreement, they will use the formula from the Child Support Standards Act to determine the new amount that is to be paid if the combined income of the parties is up to $143,000. If your combined income is more than this, then the court could determine the amount of support that should be paid or received.
If you and the other party have come to an agreement independently about what the modification should look like, then it is a matter of bringing this up outside of court and signing a new order for support. We can help you accomplish making a draft of the new agreement and getting this made to be official.
Regardless if you are looking to modify to reduce or increase, we can help you navigate the process.
You may be wondering how the payments are made if you have never done it before. It is fairly simple once you have gone through the process of negotiation and signing an agreement. Child support is a court-ordered payment made by the non-custodial parent to the custodial parent in order to help with the financial responsibility of raising a child.
According to New York law, the types of payments that fall under child support include:
- Cash payments determined by the parent’s income and the needs of the child.
- Health insurance for the child.
- Child care payments.
- Payments for reasonable medical expenses not covered by health insurance.
For more information on determining child support payments, contact experienced Buffalo family law attorney Randy H. Gugino for dedicated representation.