Why a Billionaire Does Not Pay Child Support Based on His Entire Income

In New York, child support for one child is generally 17% of the combined income of the parents combined income. However that does not mean that the child support seeker can get 17% of a billionaire’s income. Courts may apply the 17% to the total combined income but they are not required.

The court will generally calculate that child support is 17% of the both parents’ combined income up to an income cap.The income cap changes every year to keep up with economic factors like inflation. The 2019 combined parental income cap is $148,000.

It is up to the child support requester to prove why the child needs support calculated on the rest of the income beyond the cap. Generally that is accomplished by proving that the child previously enjoyed a certain standard of living before the parents split, that must be maintained, or that the child has a need for a certain amount of support. 

Child Support not only includes a percentage of the combined income but also includes ‘ad-on’ payments for other things that a child might need such as education, medical care and day care expenses. 

Beware that there is also a Self-Support Reserve which puts a limit on the amount of child support a payor must pay. The 2019 self support reserve is $16,862. The minimum support a payor must pay is $25.00 per month with an arrears cap of $500. If the payor has other children he is paying support for, that amount comes out of his income before a calculation of support is done for the newest child. The requirement to pay child support cannot put a payor below the poverty income level. In 2019 that poverty income guidelines amount is $12,490.

If you are seeking child support or need to defend a petition for child support, contact Diana Mohyi Attorney at Law P.C. to learn more. 

Family Court vs Supreme Court – The Cost Benefit for Custody Proceedings

Even Miranda Priestly had to go to think about the best option to get custody of her twins so why wouldn’t you?  Different costs and benefits exist in a decision to start the dissolution of your family unit in family court versus supreme in a New York Custody battle. 

As I mentioned in a prior post, you cannot get a divorce in family court. However, you can get custody in family court and then go to supreme court to finnish off the financial aspects of the divorce. The benefit is that family court has zero filing fees and can be a relatively quicker process than supreme court. As a result your attorney fees could potentially be less if you started the dissolution of your family unit in family court. Also, your children would not be in limbo about what the final custody arrangement ends up being. The order from the family court would be introduced to the supreme court when the divorce action commences as proof that this aspect of the divorce was resolved. 

The benefit of starting the action in supreme court is that the entire proceeding is before the same justice. That justice would get to know the family dynamics of your case that would necessarily impact your finances. You would not have to get used to the particular habits of two different judges. Your divorce lawyer, who would handle the supreme court matter may have more interaction with the supreme court judges than the family court judges. The atmosphere of the family court is more pro se friendly. Family Court judges are more used to dealing with self represented litigants. Although not recommended, this is important if you only have finances to hire a divorce attorney to resolve your financial issues in supreme court. 

If you are considering whether to pursue a custody order in family court or commencing a divorce in supreme court which involves custody issues, call Diana Mohyi Attorney at Law P.C. Two heads are better than one. 

 

When is a Child Support Modification a Bad Idea?

You see your ex in a brand new car and you rush to file a petition for an upward modification of child support in family court. What could possibly go wrong? 

A Child Support Modification is typically allowed every three years, when the party’s income changes by at least 15% and only with a substantial change in circumstances. 

When bringing a child support petition it is important to be absolutely certain that the child support payor’s income has increased significantly enough that such a motion would be fruitful. Otherwise you will waste alot of time and attorney fees for nothing. Furthermore, if the payor’s income has dropped significantly or your income has increased significantly over the years, you may end up being paid nothing. In certain circumstances, where physical custody is shared, you may end up paying the other party child support.

An increase in income  also includes imputed income from other sources that may have caused a dramatic improvement to the payor’s standard of living. For example, the ex may be receiving money from a significant other or their parents which is also part of the child support calculation. 

If you suspect that the child support payer in your life has dramatically increased in their income, contact Diana Mohyi Attorney at Law P.C. for a consultation. She can be your partner in this matter to help you avoid mistakes that cut into your ability to care for your child.

When is a Divorce Settlement Right for You?

Would you rather let a Court, who barely knows you, decide your future or would you rather swallow your pride and decide yourself? Divorce is a very emotional process. The well known epithet that a self-represented litigant has a fool for a client, rings ever more true in divorce. You must have the help of an attorney to help guide to a resolution which makes sense for you even if it requires you to swallow your pride. 

When you are involved in the most intimate issues of your life it is hard to make objective decisions. Never agree to something that would hurt you in the long-run just to get to a settlement, but be reasonable. Being in limbo for potentially years not only hurts you emotionally but stymies your progress in life. It also hurts your children who are put in a place of uncertainty. 

Here are a few key points to consider when you decide if a settlement is right for you:

    1. Will you be able to support yourself and or your children with this settlement? 
    2. Are you settling out of fear or based on rational decisions? 
    3. Will this settlement be a good decision 5 years later? 10 years later? 
    4. Have you laid out the key things you are not willing to compromise over and have you compromised? 
    5. Do you feel at peace? 

If you need help resolving your divorce call Diana Mohyi Attorney at Law. She can be your partner in this very tumultuous period in your life. 

The Heightened Fidelity Requirement in Spousal Contracts

Contracts between spouses have a more heightened requirement for fidelity, otherwise known as loyalty, than do agreements between non spouses such a prenuptial agreements. Unlike a prenuptial agreement, spousal contracts occur after the parties have pledged some kind of fidelity to one another through a ceremony or by the act of getting a civil marriage. If challenged, they are highly scrutinized by the courts to determine whether one spouse manipulated the other spouse to sign an inherently unfair agreement. Therefore they must be done properly. 

The two types of spousal agreements are Post-nuptial Agreements and Separation Agreements. 

Postnuptial Agreements are typically signed where one spouse cheated on the other and in order to save the marriage, the cheater conveys property or money to the innocent spouse. The risk in signing these agreements is that either spouse can turn around file for divorce without the need to return the conveyed property to the ‘marital pot’ for splitting. 

Separation Agreements are typically executed where the spouses are not quite ready to divorce but want to memorialize a new living arrangement. Such agreements may contain provisions for spousal support, child support and child custody, among others. They can be converted to an uncontested divorce after a year if certain requirements are met. 

The spouses should be both represented in such agreements because the risk and effort to run to court overturn them is more than just making sure you are properly represented. 

If you are interested in entering a Postnuptial or Separation Agreement with your spouse or a Prenuptial Agreement with your intended, contact Diana Mohyi Attorney at Law so learn how she can assist you.

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