What Happens if My Spouse Hides Income to Avoid Child Support?
Concealing assets is very common in New Jersey, and spouses may try to do this for a number of reasons. This act is not just limited to property division, and spouses may also try to manipulate or hide their true income in an effort to pay less child support. This can obviously be extremely frustrating for the spouse that needs this child support in order to care for their children.
If you believe that your former spouse is concealing their true income in a New Jersey divorce, you need to get in touch with a qualified, experienced divorce attorney as soon as possible. These legal professionals can help you get the child support you need to care for your children, and they can find ways to hold your spouse accountable for their behavior.
How Can Spouses Hide Their Income?
Spouses might try to hide their income in a number of different ways in an effort to avoid paying child support. One of the most obvious methods is to get paid in cash. If a spouse gets paid in cash, it might seem like a spouse is earning very little on paper. It might even create the impression that a spouse is completely unemployed. This can result in a spouse paying less child support than they would otherwise be required to pay.
Getting paid in cash is not really viable for spouses who earn significant wages at large companies, especially if spouses play major roles within these companies. However, it is possible to manipulate incomes in other ways. For example, it is very common for spouses to defer promotions while they are going through divorces. They may also defer bonuses.
All of this becomes easier if spouses have a close relationship with their employers. These employers might be sympathetic towards them as they go through divorces, and they may try to help them manipulate or conceal their income.
But what happens if a spouse is self-employed? In this case, they may also try to conceal their income by deducting expenses that are not real business expenses. This can allow them to keep money in their company without freeing those funds up for potential child support payments. Finally, a spouse might try to avoid paying child support by simply not looking for a job and remaining unemployed.
So, what is the solution if your spouse is concealing income in an effort to avoid child support? One method is to have your spouse’s income “imputed.” When a judge imputes a spouse’s income, they are essentially assigning them a certain amount of income based on what is reasonable. In other words, this is the amount of income a spouse should be earning based on all the various factors. When a spouse’s income is imputed, it does not matter what they do to try and conceal their income. They will be required to pay a certain amount whatever happens.
In addition, your spouse faces significant consequences for concealing their assets. It is technically illegal. Furthermore, they will likely be required to pay retroactive child support payments if they have been concealing their income for a long period of time. This could also result in interest charges of up to 10%. If you are looking for Child support attorney in NJ, Giro, LLP, could be your first choice.
Enlist the Help of a Qualified Attorney Today
If you have been searching the New Jersey area for a qualified, experienced divorce attorney, look no further than Giro, LLP, Attorneys at Law. We have helped many spouses get the child support they need and deserve after a divorce. Although your spouse may be using all kinds of techniques to conceal and manipulate their income, you should not give up hope. With our help, you can address this situation in an efficient manner. Book your consultation today.