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Im considering agreeing to a child-support

I''m considering agreeing to a...
I''m considering agreeing to a child-support settlement that ends up being roughly 29% of my after-tax income. Including a proposed maintainence agreement brings this up to nearly 36% of my after tax income. The maintainence would last for 4 years. Is this excessive or would it be a reasonable settlement?
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Answered in 20 hours by:
2/4/2008
Walter
Walter, Legal Consultant
Category: Family Law
Satisfied Customers: 11,528
Experience: Family Law Consultant Specializing In Interpretation Of Family and General Law.
Verified

Hello,

To arrive at the Basic New York Child Support amount, the combined parental income is multiplied by a percentage. The percentage that is used is dependent upon the number of children that the parties have. For one child, the percentage is 17%. For two children, the percentage is 25%. For three children the percentage is 29%. For four children the percentage is 31 % and for five or more children the percentage is no less than 35%.

So if you are automatically paying out the full 29% the deal may not be so great. If mom is not working then you may still get close to this amount but it would likely be lower.

As far as maintenance this is not a guarantee regardless. She may be awarded alimony if it is determined that the party seeking spousal support is:

Unable to support him or herself through appropriate employment or is the custodian of a child whose condition or circumstances make it appropriate that he or she not be required to seek employment outside the home; and

Lacks sufficient resources, including any marital property, to provide for his or her reasonable needs; or is otherwise without sufficient income.

In determining the amount and duration of alimony or spousal support, the Court will consider: The time necessary to acquire sufficient education and training to enable the spouse to find appropriate employment; the standard of living established during the marriage; the duration of the marriage; the age of the spouses; the physical and emotional conditions of the spouses.

The ability of the spouse from whom support is sought to meet his or her needs while meeting those of the spouse seeking support;

The financial resources of the spouse seeking maintenance, including marital property apportioned to such spouse and such spouse's ability to meet his or her needs independently; the tax consequences to each spouse; and any custodial and child support responsibilities.

If the spouse is entitled to support the judge will then determine how much based on what he thinks is reasonable unless the parties can come to a agreement together. If you feel your lawyer is not working for you, try sitting down with him/her and letting them know your concerns and that you want to feel secure in the knowledge they are representing you to the fullest. Ask them to run a standard child support calculation to determine what you would be paying based on both the parents incomes and situations.

Walter

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Customer reply replied 9 years ago
Reply to Walter's Post: Is it the combined income gross or after taxes (FICA)?

Hello,

Combined income gross........before any tax's are taken out. If you have net deductions (Such as you are self employed and pay out so much each month for supplies, employees etc) that will be deducted prior to combining the income.

Walter

Walter
Walter, Legal Consultant
Category: Family Law
Satisfied Customers: 11,528
Experience: Family Law Consultant Specializing In Interpretation Of Family and General Law.
Verified
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Walter
Walter
Walter, Legal Consultant
Category: Family Law
Satisfied Customers: 11,528
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Experience: Family Law Consultant Specializing In Interpretation Of Family and General Law.

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