Bonuses and commissions often present complex issues that must be properly considered in a divorce case. At the Law Offices of Leonard A. Weitzman, LLC I bring nearly 30 years of experience to each matter. If you have questions about bonuses or commissions and how they affect your divorce, contact my office today.
Helping Wealthy Clients With Complex Marital Assets
As an experienced Somerset County attorney, I am frequently questioned about how bonuses or commissions are considered by the court in a divorce case. Bonuses and commissions are usually not guaranteed, and may often fluctuate substantially year to year for any person. Many questions arise, particularly when considering how these forms of payment should be considered for alimony or child support.
Generally, courts will look backwards to establish a historical average for bonuses or commissions. The length of time the court will look backwards can fluctuate depending on the business and the economy. Generally, three years is considered a fair average, although it can be more or less depending on individual factors. There is no "rule" in this regard. Generally speaking, the more consistent that a bonus or commission has been in the past the more likely it is that it will be used to help establish income. Similarly, if a bonus was due to a one-time occurrence and is not likely to recur, it is important to properly make that known, so it is not considered as future income.
Once the court establishes the proper income stream, it is still important to consider whether future bonuses should be considered for either alimony or child support. With regard to alimony, those bonuses may or may not be considered, depending upon whether the marital lifestyle can be established for your spouse without invading the future bonus. If you are expecting to earn future bonuses, your attorney should spend time reviewing this issue with you in great detail. It could save you significant amounts of money in the future if you can successfully establish that your spouses' economic needs have already been satisfied. If your spouse earns such bonuses or commissions, you must fully establish your marital needs and lifestyle, to make sure you are being properly supported. With regard to child support, bonuses and commissions are always considered for such an award.
I regularly handle cases involving bonuses and commissions in and around Hillsborough. I will spend time reviewing and developing the best possible strategies for your personal situation as they relate to this form of compensation.
Contact an Experienced New Jersey Asset Division Lawyer
Contact me, Leonard Weitzman, divorce attorney, today. Providing clients with targeted, individualized support has been a cornerstone of my practice for nearly 30 years. Call (908) 458-9098 to set up a consultation at my Bridgewater office.