An alimony trust is a solution for those who need to pay alimony as a part of their divorce proceedings, but don't want to liquidate investments in order to create a cash payout. As per the terms of an alimony trust, the paying spouse will move assets and investments into a special trust designed to benefit the recipient spouse. The trust will generate income, which is then paid out to the spousal beneficiary.
In the state of New York, noncustodial parents will be required to pay child support based on specific child support formulas that take into consideration both parents' incomes. In addition, the noncustodial parent needs to pay a portion of various add-on expenses relating to the child.
Imagine you're in a highly toxic relationship and the only thing you want to do is to get as far away from your spouse as possible. However, you have children, and you're worried that it's not a good idea to simply separate yourself by moving out and leave your home, spouse and children. You wonder: Could moving out affect my chances of getting child custody?
Among one of the more common questions that family law attorneys get asked is whether child support obligations will be impacted by remarriage. While, as a general rule of thumb, a parent's new marriage does not impact the amount of child support they're responsible for paying, there are some circumstances under which the new spouse's finances may be adversely impacted.
While ideally both parents would arrive at an agreement about child support and not need external parties to make the determination, unfortunately, that doesn't happen terribly often. It's in situations like those that there is a specific mathematical formula used by the City of New York to determine child support required in a particular case.