Is the cost of living factored into child support payments?
If you’re paying child support in New York, several factors can influence the amount that you’re ordered to pay each month. The court typically takes your income into account as well as your spouse’s income and the amount of time each parent spends with the child. If the cost of living changes, you might find that your financial situation changes as well, and you might need to request a modification.
Does the cost of living affect your child support payments?
The cost of living isn’t necessarily taken into account when the court figures out a fair child support payment. However, that doesn’t mean it can’t have an impact on your finances. If your cost of living suddenly increases and your income can’t make up for it, you may want to request a child support modification.
An attorney may work with you to help you request a modification. If you’re successful, the court will adjust the amount you have to pay each month so that you can meet your living expenses. This can help you support your child while still maintaining a good standard of living for yourself.
However, the cost of living for your former spouse is also taken into consideration. If you experience a sudden increase in income, your former spouse might request a higher amount of child support to help them pay for your child’s expenses.
How might an attorney help you deal with child support issues?
Even after your divorce is finalized, an attorney may help you with other legal matters. An attorney may be able to negotiate for a fair amount of child support that doesn’t compromise your entire paycheck. If you need to make an adjustment, an attorney might help you prove to the judge that you can’t meet your current payments.