Child support payments are often among the most contentious issues in a divorce. Even in high-income families, it’s not unusual for there to be disagreements on what one parent should be paying the other to meet their children’s needs. Standard child support formulas do not apply to high-income cases, though. You’ll need an attorney who understands the uniqueness of high-asset divorce to modify a child support obligation that applies to affluent parents in North Carolina.
The family law firm of Charles R. Ullman & Associates has the knowledge, experience, and resources your case requires if you need a high-income child support order changed. Attorney Charles Ullman is a board-certified family law specialist, a trained collaborative law attorney, and a practicing family law arbitrator. He or another experienced Raleigh divorce attorney from our firm can make sure your child support payments reflect your child’s needs as well as your or your ex-spouse’s true financial capabilities.
Contact us today so we can review your situation and determine how to best meet your child support objectives.
Seeking Changes in High-Income Child Support
Child support orders can be modified after three years or a “substantial change in circumstances” to take into account the child’s changing needs or changes in parents’ income or expenses. The court will hold a hearing on either parent’s request to modify a child support order.
However, North Carolina’s guidelines for calculating child support payments do not apply to parents with a combined gross income of over $40,000 a month ($480,000 a year). When combined parental income exceeds this amount, the court sets child support payments on a case-by-case basis.
Under North Carolina law, a family law court should grant a payment that meets the child’s reasonable needs for health, education, and maintenance. They will consider:
- Each parent’s current and potential monthly incomes, including IRAs and stock options
- The child’s past, present, and future expenses, including daycare, medical, education, and maintenance costs such as food, clothing, and shelter
- Each parent’s living conditions
- The standard of living the child and parents are accustomed to
- Each parent’s childcare and homemaker contributions
- Prior child support payments ordered
- Any other relevant facts for the specific case
The court has the discretion to consider the child’s age and needs, the lifestyle the child has lived, and each parent’s financial capabilities. For example, the child may have attended private school, been able to travel and do extracurricular activities, and been quick to own the latest electronics and other childhood or teenage luxuries. The court will factor these expenses into the monthly child support payment it sets.
However, the court’s decision should be tempered by what should be considered “reasonable” expenses lumped in with necessities to be covered by a high-income parent’s child support payment. The court is not to award child support payments more than genuine need. The aim is to ensure the child’s well-being and lifestyle requirements are met, not to provide a financial gain for the custodial parent.
Reasons for High-Income Child Support Modification in North Carolina
There are several reasons why either parent may want to either increase or decrease the amount of child support, including:
- A substantial change in a parent’s financial situation, such as a promotion or job loss
- A child’s new medical, educational, or personal needs
- Physical custody changes
A Raleigh family law attorney can determine if a child support modification would be appropriate and help you pursue it with the courts.
Ensuring Fair Modification of Child Support for High-Income Earners
As your attorneys, Charles R. Ullman & Associates will work to define what payment is required to meet your child’s reasonable needs and balance it against your and your ex-spouse’s financial capabilities. This will require documenting your child’s prior lifestyle and anticipated needs for up to three years ahead. We will also determine each parent’s net financial assets and resources, which may be complicated by multiple income streams, business ownership, and complex investments.
Our team will present financial documents, affidavits, and testimony to the court as necessary to make a strong case for you. We will work to ensure the court recognizes and enforces equitable contributions to your child’s health, education, and maintenance based on your and your ex-spouse’s financial capabilities.
Depending on your child’s age — support obligations end at age 18, or age 20 if the child is still in high school — we can also help you evaluate your child’s likely needs over the long term and the impact on future support payments. When appropriate, we can push to have the court acknowledge a younger child’s future needs and encourage the establishment of financial vehicles, such as a trust, to finance anticipated increases in child support payments.
Consult an Experienced High-Asset Child Support Lawyer in Raleigh
A Raleigh high-asset divorce attorney from Charles R. Ullman & Associates can provide you with compassionate and professional legal services if you need to modify or stop unreasonable changes to child support payments. Our team recognizes what is at stake for you and your family. We know that determining what is best for you and your children requires examining your and your ex’s finances, understanding North Carolina divorce law, and listening to you and your desires.
Charles R. Ullman & Associates offers over 25 years of hands-on experience helping clients like you successfully negotiate high-asset separation and divorce, child support arrangements, and related domestic issues. Past clients say we provided “a keen knowledge of the law, as well as a dedicated commitment to achieve the best outcome.” We’ll work to persuade the court to meet your desires now and can help you with customized support plans and long-term guidance for the future.
Contact us online today or at (919) 829-1006 to schedule a confidential legal consultation about the professional representation you need.
