On April 13, 2009, the Appellate Division issued a decision in the case of Cadavid v. Nieto which dealt in large part with the issue of child support in high income cases. To view the full text of the case, click here.
In the Cadivad matter, the father appealed an Order requiring him to pay almost $9000 per month in child support. Both parties were immigrants from Colombia. The father is the successful founder and president of eight schools that teach English as a second language located in New Jersey, New York, Florida, and Canada. He also owns interests in several commercial properties in New Jersey and Florida as well as 4 homes. In a June 2007 loan application, the father valued his various business interests at $8 million and the fair market value of his real estate holdings at $5.2 million. The trial judge calculated the father’s annual income for purposes of child support at approximately $2 million annually.
On the other hand, the mother was a full time homemaker but had an associates degree from Bergen County Community College.
The parties had 3 children under age 10 at the time of the proceedings.