Whether you will be the giver or receiver of child support in Mount Holly, you are likely interested in how the court goes about figuring out how much the monthly or weekly number should be. There is a sort of formula that is used to calculate the amount and there are a number of different factors that are considered.
The New Jersey Child Support Program points out that it is important to note that the intention of the law is not to drain either parent or leave them too poor to afford the other things they need in life. Guidelines exist so that neither party receives too little or pays too much. Once calculations are completed according to the guidelines under the law, that amount is then put into the final order issued by the court.
The guidelines take into account not only the income of each parent but also what deductions and liabilities, such as taxes, each parent is responsible for each month. Once each person’s net income is calculated, those numbers are combined and then the amount of support is calculated based on the number of children in the family.
However, that amount can be adjusted based on other factors. For instance, if one parent has physical custody more often than the other parent, the amount of support may be adjusted accordingly. In addition, expenses such as health insurance or day care may be factored in to the amount. Finally, if one parent earns more than the other, the amount of child support may require adjustment.
