Legal Question in Family Law in New York
child support - net asset calculation
my spouse's ex wants to petition for child support change. I refinanced my home last year, bought out my own ex, and added my spouse to the deed (stupid - I think). Also, we took out an extra sum(now in a bank acct) to do a much-needed addition to the home - we are in the process of getting drawings done, then get permits and a contruction company. Will this money that came from a pre-marital asset and my home's equity be considered by the court as income - we waited all this time to be able to take on a bigger mortgage pymt - we don't want to lose this now. I am terrified that we will lose this $$$ to someone else's greed. The refi was done 4 1/2 yrs into 2nd marriage, the cash is in a joint acct.Are my personal accts, my home, my salary, taken into acct by the court in determining ch.support for my spouse's ex?
2 Answers from Attorneys
Re: child support - net asset calculation
the house as an asset needn't be considered but it should be carefully documented. Call me for free consultation 516 410 4001
Re: child support - net asset calculation
Generally, the child support % is based upon the non custoidal parent's CSSA income. CSSA income is generally wage income minus apx 10% for FICA & Medicare. "Add Ons" are pro rata, for those items that are reasonably necessary to permit the custodial parent to work or go to school; and for those items consented to, actually or constructively, ie., pvt school, summer camp etc..
If a parent't income is sufficient or exceeds a minimum income, his nor his spouses' assets need be considered.
He should have an attorney, rather than assume he can handle it alone.
GOOD LUCK,
PHROSKA L. McALISTER, ESQ.
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