Many New Jersey residents will likely face financial concerns at some point in their lives. There are various situations that could lead to individuals needing to make important decisions regarding their finances, and divorce is one of those situations. Concerns over child support, property division and other agreements are understandable. By focusing on the future and understanding how present decisions can impact the future, parties may be better able to come to beneficial terms.
In some cases, New Mexico custodial parents who are owed back child support by their former spouses or children's noncustodial parents may be able to reclaim some or all of the sum owed from the noncustodial parent's Social Security benefits. The type and amount of the benefits the noncustodial parent receives and what proportion of the parent's income constituted by the benefits affects how much, if any, back child support may be reclaimed.
A few key points are taken into consideration when determining the required amount for child support payments in the state of New Jersey. Modifications to an agreement can possibly be made if one of the involved parties is not satisfied with the terms.
When one parent retains physical custody of a minor child following a divorce, the court may require the other parent to pay child support to help cover expenses for the child's care, maintenance and education. In New Jersey, the court will usually use a Child Support Worksheet to calculate the proper child support obligation from one parent to the other. The worksheet allows the court to view all of the factors that affect the financial situations of both parents.
As a parent, it is your responsibility to provide for your child. This is the case regardless of whether you are the custodial parent or not. Failure to pay child support will not only lead to a lawsuit, but can also demonstrate what kind of parent you are in the eyes of your child.