If you are getting divorced, you and your spouse will have to share information about your respective incomes for purposes of determining child support and spousal support if applicable to your situation. Both types of support are calculated as a percentage of income using a specific formula … [Read more...] about How Can You Verify Your Spouse’s Income for Child Support and Spousal Support Purposes?
New York utilizes a formula when calculating spousal support and child support. While spouses can still negotiate the issue, the law provides the guidelines the court will be using in determining the support award in the absence of an agreement. For both spousal and child support, a standard formula … [Read more...] about New Caps for Calculating Spousal Support and Child Support in New York
Under New York law, spousal support and child support are determined based on a statutory formula that looks at the income of both parties. When one party has a trust fund, an issue that can arise is whether the income from the trust can be used in calculating spousal or child support. The answer to … [Read more...] about Is Income from a Trust Fund Used in Calculating Spousal or Child Support?
When couples divorce, often there are ongoing support obligations. One spouse may be entitled to spousal support or, if the couple has minor children, child support will be awarded. The amount of spousal support and child support is calculated based on a statutory formula that looks at the income of … [Read more...] about How Is Spousal Support and Child Support Determined When One Spouse is Self-Employed?
If you are paying alimony to your ex, it may frustrate you to find out he or she is now sharing a home with a new romantic partner. Typically, spousal support ends if the receiving party remarries. However, the obligation to pay spousal support generally continues even if your ex-spouse is living … [Read more...] about Do You Have to Pay Spousal Support If Your Ex-Spouse Is Living with Someone Else?
If you got divorced before you and/or your spouse retired, you may be surprised to discover that generally, retirement does not change the amount of spousal support with a few exceptions. This may mean that if you are the payor you have to work more years or find other ways to meet your … [Read more...] about Does Retirement Change the Amount of Spousal Support You Must Pay?