California Complex Child Support Lawyer
At E&L, LLP, we know that not all divorces are straightforward matters. That is because representation in complex and high-asset divorces may be more complicated than an uncomplicated divorce. At E&L, LLP has the experience to guide our clients through divorces involving sophisticated assets and financial holdings to protect their assets and represent their interests.
In addition to assisting with asset distribution in high net-worth divorce, our firm protects our clients’ rights in complex spousal support and child support matters. For high-asset individuals and business owners, determining the amount of support is a complicated issue that requires aggressive representation and financial experts.
In Beverly Hills and throughout California, spousal support, alimony, and child support in high-asset divorces are determined based on the reasonable needs of the dependent spouse and children upon state guidelines. In addition to considering the earning capacity of each spouse, California courts consider the disposable income of business owners, including benefits such as a car, medical benefits, and travel, or the net income of other high net-worth payers, in establishing a support obligation or benefit. It is important to recognize that in California children are entitled to live at the standard of the wealthier parent. This means that no matter what the assets or resources of the custodial or non-custodial parent are, the child will be offered all of the benefits that the more financially secure parent enjoys. There is a long list of factors that are considered when determining complex child support issues, including but not limited to, the number of children affected, the amount of time they spend with each parent, existing health considerations, costs of medical coverage, tax filing status and the parent’s income and earning potential.
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In addition to complex child support; spousal support considerations can be extremely difficult to account for properly without the assistance of a qualified and experienced complex support attorney. The combination of child & spousal support payments is known as “family support”. Family support is an agreed-upon combination of both child & spousal support payments as an unallocated sum (meaning there is no one defined figure for child and/or spousal support alone). Family support is tax-deductible, but must be paid according to the guidelines of the Internal Revenue Service.
Family support allows the creation of federal and state tax deductibility for child support payments. By categorizing the support as “family support” the supporting spouse can circumvent existing tax law regarding child support payments. Family support payments are potentially deductible by the payee, but also must be claimed as taxable income by the recipient. While this may not always be beneficial for the supported spouse, in some instances, it can be beneficial for all parties involved, especially when the payee earns very little taxable income. In those circumstances, the tax benefit to the payer may allow them to offer more money in support than they would without the additional tax benefit.
To protect our clients’ rights in these cases, At E&L, LLP utilizes financial experts and employment evaluators. Their analyses inform the recommendations the court will consider after we determine to settle or contest support. Our goal is to help our clients make decisions that are right for them and their families.