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The non-custodial parent is retiring; how will this affect our children’s child support plan?
My separation agreement (incorporated into Divorce Judgement) states that child support shall not change until the oldest child is emancipated (and then will be recalculated for 2nd child only based on then current incomes). This first part was to protect the children against the loss of support due to the noncustodial parent threatening to imminently retire to reduce child support. Custodial parent (that’s me) currently makes only 60% of noncustodial parent’s salary. It seems now that the second part will hurt the remaining child. The noncustodial parent will actually retire before oldest child turns 21. Am I correct in that by failing to impute salary or include some special clause and allowing an opening of the calculations (against “early” retirement) for the 2nd child, my Agreement fails to protect the level of support for that child? Will we be recalculating upon the emancipation of the first child, with a salary for the noncustodial parent that is significantly lower than when the Agreement was signed?
The Support Magistrate can consider an “early” retirement and impute income. Whether he/she does depends on what you mean by “early” retirement and whether retirement was an option or a necessity due to downsizing, company mandates and/or disability.
Do you have questions about your child support agreement? If so, contact the experienced Saratoga Child Support Lawyer Jean Mahserjian.