Divorce is rarely simple, and when children are involved the complexities can intensify. Child support is one of the most critical aspects that parents need to consider during the separation process. A recent North Carolina case, Bishop v. Bishop, sheds light on some crucial issues that can arise in child support matters, especially for high net-worth parents. Continue reading →
Bishop v. Bishop, ____ N.C. App. _____ (Dec. 2020)
Child support in North Carolina is typically determined by a formula set out by the legislature and applied in child support guidelines and their worksheets. However, it was known for some income levels that the formula no longer becomes equitable. Too low or too high of income both throw a wrench into the calculus. For higher income families, the court may forgo the use of the guidelines and make findings on the reasonable needs of the child when compared to a parent’s ability to pay; meaning it should account for their assets, debts, and lifestyle. Continue reading →
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