Parents across the country are legally obligated to provide financial support for their children until they become emancipated in the eyes of the state. In New York State, parents are required to provide support for their children until the age of 21. However, this support obligation can be extended by several years if the courts deem it necessary and appropriate. The New York Child Support Standards Act is the governing law regarding the financial cost of raising a child for parents who are not married. This law takes a percentage of the parents’ combined incomes up to $80,000. The percentage is also based on the number of children that require support. One child will get 17 percent, two children get 25 percent, three children get 29 percent, four children get 31 percent, and five or more children get at least 35 percent.
Of course, there are other factors that are considered in creating a child support award because sometimes a formula isn’t enough for a family’s situation. Some of the additional considerations include the following:
- The educational background of the parents
- The earning capacity of each parent
- The income, debt, and assets of each parent
- The work history of each parent
- The age and health of the child
- The education of the child
- The needs of the child
- The cost that it takes to care for the child
- The special needs of the child
- The tax consequences that each spouse may face
- The financial resources of the child, if any
If you have questions about child support in New York, contact us today.
The Pollack Law Firm, P.C. understands that divorce and family law matters can be very complicated and emotional. They require strong legal representation from a compassionate attorney. Robert Pollack is an experienced divorce and family law attorney in Long Island, New York. Contact The Pollack Law Firm, P.C., to set up a free initial consultation.