Tag Archive for: child support

Child Custody and Support in High Net Worth Divorces: How to Protect Your Family’s Future

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Navigating a high net worth divorce can be a daunting process, especially when it comes to child custody and support. For families with significant financial assets, these issues become even more complex. The decisions made during this time can have lasting impacts on both parents and children.

As you prepare for your high net worth divorce, it’s crucial to consider both your best interests and what is best for your children. We’re here to support you as you consider your next steps. Call Pence Law Firm at 304-345-7250 to set up a time to meet our family law team.

Child Custody in High Net Worth Divorces

In any divorce, child custody is a crucial concern.Bbut in high net worth divorces, the stakes can be even higher. Courts aim to prioritize the best interests of the child when deciding custody arrangements. They consider several factors such as the child’s emotional well-being, the parents’ lifestyles, and their ability to provide a stable environment.

High net worth divorces can make custody decisions more complex. These families often have multiple homes, extensive travel schedules, and numerous extracurricular activities. Parents need to show how their proposed custody arrangements will benefit their children. This might involve demonstrating a stable living situation, a supportive extended family, and access to high-quality education and healthcare.

Remember, custody isn’t just about where the child lives. Legal custody, which includes making important decisions about the child’s education, healthcare, and other significant matters, is equally important. This may be more challenging in families where one parent has long been the primary caregiver and the other has largely taken a hands-off approach to important parenting decisions.

Financial Implications of Child Support in Wealthy Families

Child support in high net worth divorces often involves larger amounts to reflect the family’s affluent lifestyle. Courts look at various income sources like salaries, bonuses, investment earnings, and other assets. They aim to ensure the child continues to benefit from a similar standard of living post-divorce.

When determining support, courts consider the child’s needs, including education, healthcare, and extracurricular activities, which can be more expensive in wealthy families. If one parent has a significantly higher income, the other might receive more support to ensure the child enjoys a consistent lifestyle.

The Role of Prenuptial and Postnuptial Agreements

One key misunderstanding that often comes up in these discussions is the role of a prenuptial agreement. While you can make many important decisions regarding how a divorce may be handled, a prenuptial agreement cannot override what is best for the children of that marriage. Basically, child custody and child support are issues regarding the child’s rights—not the parents’ rights. For that reason, those decisions cannot be made in a prenuptial agreement. They must be approved by the court.

Importance of Expert Legal and Financial Advice

Divorces involving significant assets can be especially complicated, making expert advice essential. A family law attorney who understands high net worth cases can guide you through the legal challenges. Ensuring your rights and interests are safeguarded. These professionals are well-versed in handling the unique aspects of wealthy divorces, such as multiple properties, business interests, and complex financial portfolios.

In addition to legal counsel, consulting a financial advisor is crucial. They can help you understand how your divorce will impact your finances, including child support obligations and asset division. Financial advisors can provide a clear picture of your current financial standing and help you plan for future stability. Ensuring that your children’s needs are met without causing undue financial strain.

A collaborative approach between your attorney and financial advisor can offer a comprehensive strategy for managing both legal and financial aspects of your divorce. This teamwork can demystify the process and empower you to make well-informed decisions. Knowing you have a team of experts on your side can provide peace of mind during this challenging time, allowing you to focus on your children and their well-being.

Choose Pence Law Firm for Your Charleston Divorce

The sooner you seek legal advice during a divorce, the more time you have to process your options and make the best decisions for your future. Let’s start by sitting down and talking about your next steps—just call 304-345-7250 or contact us online.

Does Child Support Cover Your Kid’s Extracurricular Activities?

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Raising a child is expensive. Even when you use secondhand kids’ items, choose hand-me-down clothes, and use other resources available to you, raising a child to adulthood costs hundreds of thousands of dollars. When you add in extracurricular activities, the bill gets even higher. This raises the question: how are extracurricular activities handled when it comes to child support?

Learn more about what state law says and how you can plan ahead for your child’s extracurricular activities. To learn more about your options, call Pence Law Firm at 304-345-7250.

What Child Support Covers

Child support in West Virginia covers a wide enrage of expenses. At its core, it covers the basic expenses associated with raising a child—housing them, feeding them, and ensuring that their basic medical needs are met. It also covers the expenses that routinely come up for parents, such as clothing, school supplies, and hygiene items. However, beyond the basic child support obligation, there are other expenses that child support may cover. 

For example, if a child has extraordinary medical needs, a child support order may include additional money for those expenses. This is common for children with serious diagnoses or disabilities. Child support may also include money for daycare and other types of childcare that are required for the parents to work.

Calculating Child Support in West Virginia

There are a few different ways to calculate child support, and each state has the right to set its own calculations and procedures. West Virginia starts with the assumption that both parents are responsible for meeting their child’s financial needs. They calculate child support based on the idea that both parents pay child support in a way that accounts for their custodial role and the amount of income they bring in. 

Let’s assume that the court looks at both parents’ income and determines that $600 is owed in child support. In this case, the parents have a traditional custody split where one parent has custody and the other has visitation. The parents’ combined monthly income is $2,000. The custodial parent brings in $500 per month or 25% of the joint income, so they pay 25% of that—$150. The non-custodial parent brings in $1,500 and is responsible for 75%, or $450. If you take 600 and subtract the custodial parent’s contribution, they will receive $450 from the non-custodial parent.

There are obviously cases that aren’t quite so cut-and-dry. For example, if the parenting time is closer to an equal split, the formula may be adjusted accordingly. The calculation may also be different if there are drastic income disparities or unusual circumstances.

Your Child’s Extracurricular Activities

What, then, does the law say about extracurricular activities? Extracurricular activities are not automatically accounted for in child support, but they also aren’t automatically split between the parents. That’s why it’s important to work with an attorney while drafting a parenting plan and divorce order. 

Even if your children are young now, they will have extracurricular expenses in the future—and if you don’t include a clause in your divorce order about paying for those extracurricular activities, the parent who signs them up will likely be left footing the bill. This can be difficult when one parent is passionate about their child pursuing their interests and the other simply wants to limit their financial losses. It’s especially important to address this matter if your children are already old enough to start extracurricular activities, as you know then just how expensive they can be. Your children shouldn’t be left having to skip out on activities they love because of a dispute between parents.

What to Do When Your Child Starts Extracurricular Activities

Keeping the lines of communication open is crucial. When your child starts getting interested in non-school activities, make sure you can help them explore their passions. Many parents can work together to come to an agreement regarding extracurricular scheduling and financial coverage. When you reach an impasse, it may be time to reach back out to your divorce attorney and figure out what your options are.

Discuss Your Case with Pence Law Firm

The team at Pence Law Firm is here to help you create or modify a child support order that meets your child’s needs. Find out how we can help now—just call us at 304-345-7250 or contact us online.

Should I Agree to Pay Above the Child Support Guidelines?

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It’s no secret that children are expensive, and when a West Virginia couple divorces, the higher-earning party often has to chip in more to ensure that their children’s needs are met. But what if the child support guidelines laid out by the state still don’t meet the child’s needs? If you’re considering paying above and beyond the child support guidelines, it’s important to know how it may affect you down the line.

As you figure out a fair and reasonable child support agreement, make sure you have a strong legal team representing you. Call Pence Law Firm at 304-407-7852 to set up a consultation with our team right away.

Child Support Guidelines in West Virginia

West Virginia uses the Income Shares Support Formula, which calculates both parents’ income and assumes that both parties would be contributing to the child’s upbringing were they to stay married. The calculator also accounts for how much time the children spend with each parent, how many children there are, and any unique expenses involved in caring for the children. Even if child custody is split 50/50, it’s likely that a parent who earns significantly more will pay child support to the lower-earning parent.

There are many higher-earning parents who decide to pay more than what the state requires. Learn more about what this means for you.

Factors That May Influence Your Decision

There are a number of factors that may sway your decision. Perhaps you have the financial capacity to pay above the child support guidelines, and you want to ensure that your child has the quality of life you feel they deserve. Your child may also have unusually expensive extracurricular activities, private school tuition, or medical expenses that push you to give more. If you know that the other parent struggles financially, you may want to support them by providing more financially. Some people also use additional child support as leverage; if you want additional time with your children, you may compromise by providing additional support.

The Benefits and Risks of Overpaying

There are several benefits of paying over what the child support calculator states, including:

  • Showing your commitment to your child and their best interests
  • Limiting conflict with your co-parent and providing for your child in a meaningful way
  • Giving yourself some wiggle room—should your financial circumstances change in the future, you may be able to decrease child support but still be within what the law recommends
  • Allowing your child to participate in more activities and enjoy life to the fullest

However, there are potential risks to consider:

  • If your financial circumstances change and your child support is legally ordered, you may have to go through the expense of hiring a lawyer and going to court to get the order changed
  • Resentment may build if you limit your own quality of life in order to provide extra, particularly if your co-parent isn’t appreciative
  • Potential of having your extra child support used to enrich your co-parent’s life rather than your child’s life

Protecting Yourself Legally

Before you agree to anything, it’s important to discuss your options with a Charleston child support lawyer. If your child support order includes extra child support, that is legally binding—you cannot simply decide to stop paying the “extra” because it is above the child support guidelines. At that point, it is part of a court order, and failing to pay could put you in contempt. 

This is something to think about before agreeing to any set number. If you want to pay extra without the risk of a sudden change in financial circumstances, consider having your child support order reflect the state-mandated amount and paying the rest informally. However, you should discuss these and other options with your lawyer to make the best choice for you and your children.

Explore Your Legal Options with Pence Law Firm

Ready to find the best child support solution for your financial needs? The team at Pence Law Firm is here to help you. Our experience in family law gives us the knowledge and skills needed to handle even the most complex child support cases. Get started now by calling us at 304-407-7852 or filling out our online contact form.

Establishing Paternity and Its Impact on Child Support and Custody

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Questions of paternity can be painful and confusing to navigate. Perhaps you’re in a long-term relationship but not married, and you need to know how to get on the birth certificate as your child’s legal father. Maybe you’re questioning the paternity of a child you’ve raised as your own. You may have just found out about the existence of a child that is very likely yours.

No matter what has led you here, we’re here to help. As you figure out your next steps, turn to the team at Pence Law Firm to advocate for you. Call us at 304-407-7852 to set up a consultation now.

How to Establish Paternity

Paternity does not need to be established in every single case. If a child is conceived or born out of wedlock, during a separation, or during a divorce, you must establish paternity. However, even if you are married and the child was born during your marriage, you can seek to prove paternity.

There are several ways to go about establishing paternity in West Virginia. By following any of these accepted routes, you can be legally named as a child’s father. This enables you to seek parenting time and allows either party to establish child support. You can establish paternity by:

  • You can voluntarily acknowledge that you are a child’s father by signing a Declaration of Paternity Affidavit.
  • Either parent can verify paternity or determine paternity if it is in question by requesting genetic testing. The BCSE—Bureau for Child Support Enforcement—will order the genetic testing and send the results.

If you have been struggling to prove paternity because the other parent is resistant, you may wonder about your options if they refuse to submit to genetic testing or refuse to present the child for genetic testing. Once the BCSE orders genetic testing, it is a binding legal order. Should either party refuse, the BCSE can find them in contempt and go forward from there.

Paternity and Child Support

Once paternity has been established, either via the Declaration of Paternity Affidavit or genetic testing, the BCSE will set up a hearing to determine child support for the child or children in question.

In fact, child support is often the primary reason that a parent seeks to establish paternity. Potential fathers often have a lot of questions when this happens—what if they don’t want to be involved in the child’s life? Can they sign their parental rights away to avoid paying child support? What if the mother hid the child from them?

There are very, very few circumstances under which a legal father can avoid paying child support to provide for his child or children. The court will go to great lengths to ensure that the child receives the financial support they deserve, including seizing tax returns and garnishing wages. It is crucial to speak with a child support attorney if you are concerned about your obligations and your ability to pay.

Parental Rights and Custody

The good news is that establishing paternity does give the legal father substantial rights. Once he has been named as the legal father, he can request access to the child in order to build a relationship with them—barring extreme cases of abuse, substance abuse, or other scenarios that would put the child in danger.

If the child is young, visitation may depend on whether or not the child is breastfed and how long they can be away from their mother. Once they reach an appropriate age, a father can request additional parenting time.

If the child is older and the father has not been involved in their life until now, visitation may start gradually and slowly ramp up. This gives the child time to become comfortable with their father before moving to overnight visitation and even shared custody.

Take the Next Step in Your Family Law Case and Contact Pence Law Firm

No matter what situation you find yourself in, we are here to support you. Set up a time to talk to the family lawyers at Pence Law Firm now to talk about your legal options. Give us a call at 304-407-7852 or send us a message online.

Can The Things I Purchase for My Child Count Towards My Child Support In West Virginia?

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West Virginia child support laws strictly define which expenses can count towards child support. As a non-custodial parent, you might wonder if gifts or expenses for your child can be considered child support. Consulting an experienced WV family law attorney can help clarify your rights.

Purpose of Child Support

Child support aims to cover a child’s basic needs, such as food, housing, clothing, education, and healthcare. In some cases, it may also include additional expenses like daycare, dental work, car and insurance, phone, internet, and extracurricular activities. For example, if your child needs braces, you may be able to include this cost in your child support payments.

Additionally, the purpose of child support is to ensure that the child’s standard of living remains consistent despite the parents’ separation. This means that financial responsibility is shared between both parents to maintain the child’s well-being, even when they are no longer together.

Including Gifts and Loans in Income

Gifts are generally not considered part of the custodial parent’s income unless the non-custodial parent provides them regularly. The court may consider such gifts as income if they were a part of the income during the marriage, generated from a shared investment, or if the giver will continue to provide them. For instance, if you regularly gifted your child a yearly vacation during the marriage, the court may include this expense in the child support calculation.

However, loans provided by the non-custodial parent to the custodial parent might be treated differently. The court may consider these loans as income if they are used for the child’s expenses, such as paying for medical bills or tuition fees. In such cases, the court may take into account these additional financial contributions when determining the child support amount.

Types of Gifts from a Paying Parent

Any payment or item given to the child outside of the child support agreement is usually considered a gift. Examples include toys, electronics, clothes, jewelry, or sports items. If you buy your child a new bicycle, the court typically considers it a gift and not a part of your child support obligation.

It is essential to differentiate between gifts given directly to the child and those given to the custodial parent for the child’s benefit. While the court may not count gifts given directly to the child as child support, providing financial assistance to the custodial parent for the child’s expenses might be considered when calculating the support amount.

Dealing With Payments Made Outside the Custody Order

Payments made outside of the court order are not connected to support payments. If you want to ensure that the gifts you provide count as an alternative form of child support, you can agree with the other parent to include these arrangements through the courts.

In some cases, additional expenses for activities or events may be applied toward traditional child support payments, unless the court does not recognize the arrangement. For example, if you pay for your child’s soccer camp, you may be able to count it towards your child support payment.

Keep in mind that the court will ultimately decide whether to accept these alternative arrangements as part of your child support obligation. Providing clear documentation and proof of the payments made, such as receipts or bank statements, can help support your case when presenting it to the court.

Consult with the Co-parent When You Give Gifts

To avoid misunderstandings, it’s best to coordinate with your ex-spouse when giving gifts or making additional arrangements. Establishing a reasonable budget and discussing acceptable items will ensure both parents are on the same page. For example, agree on a spending limit for holiday gifts to avoid disagreements and maintain a positive co-parenting relationship.

Open communication and collaboration with your ex-spouse can help create a healthy co-parenting environment for your child. By discussing gift-giving and other financial arrangements, you can prevent potential conflicts and ensure your child’s needs are met. Establishing trust and transparency with your co-parent can also foster a sense of stability and security for your child, making them feel loved and supported by both parents.

Contact a Skilled and Compassionate West Virginia Child Custody Attorney Today

To navigate the complexities of child custody, child support, and post-divorce modification orders in West Virginia, consult with the seasoned family law attorneys at Pence Law Firm, PLLC. To schedule a free consultation, call (304) 345-7250 or fill out the online contact form.