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Friday, December 9, 2016

How Hidden Income Can Raise Child Support Payments

The state of North Carolina has established a precise and calculated way in which child support payment amounts are ordered. Those payments can go beyond what a non-custodial parent brings home in a weekly paycheck. However, any hidden income can lead to much higher weekly child support payments.

An order for child support is rendered based on the adjusted gross income of the non-custodial parent. It basically takes the salary of that parent and deducts a percentage in order to pay the necessary expenses for a child’s cost of living.

There are other ways to increase weekly child support payments. Income is considered more than just one’s salary and wages. It also includes incentive-driven bonuses at work, overtime wages, cash tips as well as commission-based pay.

Interest can also raise the amount of support payments. If a non-custodial parent is currently earning money in the form of interest as a result of some kind of investments or other businesses, then that money can be added to the total gross income.

In a similar manner, older parents receiving social security payments can add those figures to their total income. Moreover, any kind of retirement income can go into the final number that determines weekly child support payments.

In the event that a non-custodial parent suddenly receives a lump sum settlement in a legal case or should they be fortunate enough to win some kind of lottery drawing, those winnings can be counted towards their total gross income.

Parents who are out of work and receiving workers’ compensation benefits can have that counted as income. That monetary compensation would be deemed the same as their weekly wages. Unemployment payments also apply to that same rule.

All those aforementioned sources of income can be considered as a type of ‘hidden’ income. It is not uncommon for non-custodial parents to try and hide those funds with the intent of not having to pay higher child support payments. However, an experienced family law attorney will be able to circumvent those attempts and get custodial parents exactly what they deserve.

If you feel like you should be getting more in weekly child support payments, contact the professionals at Southpark Family Law in Charlotte NC. A child support lawyer can work with you to find all the hidden income of the non-custodial parent. For a trusted family attorney, go with the experience and integrity of Southpark Family Law.

Friday, November 4, 2016

Why a Prenuptial Agreement Makes Perfect Sense

Leading up to a wedding, every couple must decide whether or not they want to sign a prenuptial agreement. While it is a common topic, it can be an uncomfortable one to talk about. After all, no one wants to believe that their marriage will not work out.
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Nevertheless, it is a very important decision about the future. A couple’s inability to make a decision on a prenuptial agreement prior to a marriage could be a sign that they may struggle with other important decisions down the line.

Every person’s financial situation is different as is their approach to handling their finances. It is also not uncommon for people to keep their financial decisions and situations to themselves. However, couples who are open about their finances when it comes to signing a prenuptial agreement tend to find that it brings them closer together.

Managing money is a part of any marriage and a prenuptial agreement is a start to that unified type of management. It is basically a private agreement that is able to be enforced by the court should the need ever come about. Whether couples realize it or not, it is important to make arrangements for matters such as credit card debt, loans, property issues and much more.

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Recent trends have shown that more and more people are marrying at an older age. That means they have worked longer and most likely accumulated more assets than young people looking to enter into marriage. Student loans can still hang over people’s heads for a long time while property ownership is more frequent in marriages that occur later in life.

In the event that children are involved, a prenuptial agreement would also protect their futures. Making sure assets are protected for the sake of children should never make any prenuptial conversation an uncomfortable one.

When a couple is set to go through with a prenuptial agreement, each should hire their own family law attorney. It is also wise to start that process long before the date of the wedding. A family lawyer can facilitate the process which can lead to a better means of communication about finances, future and the entire marriage as a whole.

Southpark Family Law has a team of experienced attorneys ready to handle all the details involved in a prenuptial agreement. The team of attorneys also handles issues involving divorce, child support and child custody.