Generally, child support is an amount of money paid by one parent to the other on behalf of their child, as and for the financial support for their child. Child support is the right of the child and not the parent. Accordingly, the parent cannot waive the child’s right to receive child support.
Calculation of child support:
Child support is generally calculated by one of two ways:
- If the parents’ combined net incomes exceed $8,840.00 per year and are less than $187,200.00 per year, the amount of child support that a child is entitled to receive is calculated pursuant to a formula known as the New Jersey Child Support Guidelines.
- Generally, if the parents’ combined net incomes exceed $187,200.00, the amount of child support that a child is entitled to receive is determined by the Court after considering various statutory factors (much like in the case with alimony). Those factors include, but are not limited to, the needs of the child, the standard of living of the parents, and the incomes and assets of the parents.