Key Points About Child Custody To Consider In High Net Worth Divorces

Allocating parental responsibilities in a divorce is often one of the most contentious aspects of the proceedings.

Naturally, parents are accustomed to spending time with their children and want to continue to do so even after separating and ultimately divorcing their spouse.

Unfortunately, this two-way street can cause emotions to run high and people to lose sight of what is really important: the wellbeing of the children.

Child custody disputes in high net worth divorces can be even more complicated as the traditional income-based calculations used in middle and lower net worth cases is modified and courts use different reasoning.

In these situations, having an experienced Las Vegas High Net Worth Divorce Attorney can help clients plan ahead and make sense of what is to come.

How Much Child Support Will I Pay After My Divorce?

Who pays child support and how much depends on a myriad of factors which Nevada divorce courts will take under consideration.

First, who becomes primary custodian of the child depends on what is best for the child. Now, however, there is a preference for joint legal as well as joint physical custody so the days of one parent seeking primary physical custody of the children just to obtain higher child support are quickly becoming a thing of the past.

Parents cannot sign away their child’s rights in prenuptial agreements however they may agree on custody arrangements between themselves during divorce proceedings.

Second, while courts use mathematical calculations to determine child support payments in divorce cases between couples with high net worth, it is only the starting point to determine what the actual child support will be.

After performing the initial child support calculation, Nevada divorce courts look many factors to deviate from the calculation such as the lifestyle and the needs of the child to determine how much money the custodial parent will receive to meet the child’s needs.

Factors for child support payments in high net worth divorces include:

  • Private school education
  • Expensive extracurricular activities or hobbies
  • Health and dental care
  • Child care services including nannies and au pairs
  • College tuition

Can I Amend My Child Support Payments?

Nevada divorce courts do set certain circumstances where parents paying child support can petition to have their arrangements modified.

If a parent paying child support sees a 20 percent increase or decrease in his or her earnings, the difference is enough to meet the court’s change of circumstances requirement which allows that parent to ask for a child support review. Parents paying child support and making 20 percent less money may end up paying less while the opposite may also be true.

Furthermore, parties can petition the courts every three-years to re-examine their circumstances to see if a change in child support payments is warranted, even if the change in circumstances requirement is not met.

Modifying child support payments when financial circumstances change is extremely important in high net worth child custody cases because even one-missed monthly payment can put someone over the $10,000 threshold in back child support that constitutes a Class C felony in Nevada. This is especially important because once a child support payment has accrued, it cannot be retroactively modified.

Las Vegas Child Support Lawyer

For assistance with your divorce and child support matters, contact a reputable Las Vegas Child Support and Family Law Attorney today.

With over a decade of experience, including vast knowledge of high net worth cases, Shawn M. Goldstein is a seasoned attorney serving Las Vegas, Nevada who can help you find the best solution for you and your family.