Legal Question in Family Law in New York
Child support
When the 17% of child support is calculated from gross income is a compensation settlement (large amount) included in the gross income?
2 Answers from Attorneys
Re: Child support
The answer depends upon the reason for and nature of the compensation.
How the compensation is characterized or "broken down" may affect how the the Child Support is calculated.
If a substanial portion of the compensation is allocated to rehabilitation, prosthetics, or like services and equipment, then that entire portion could be excluded.
However, the full portion of compensation in the nature of "replacement" wage or employment income or assets, is likely to be subject to the
17%application.
GOOD LUCK!
Re: Child support
Do you mean as in "workers compensation"?
Any such "fund" is an asset that can be taken into consideration setting support.
Of course, there's a difference with an asset like that & regular income {namely, "regular income" is just that; and such an asset is likely a 1-shot deal}.
So, it doesn't work to "simply" apply the 17% to that sort of asset, or "fund", for the purposes of projecting into the future when setting a weekly or monthly child support amount.
Of course, if you had that settlement because you were otherwise without any other 'regular income', the situation is different.
Regards, etc.,
J. M. Hayes
>>--> The foregoing amounts to musings and observations based on some years familiarity with the 'day-to-day' operation of the law with regard to the issues involved In The Most General sense; my remarks should not be thought of as "legal advice and counsel" in the formal sense of that phrase, since there is, in fact, no 'attorney / client' relationship existing between us. <-<<