Page 1 of 3 123 LastLast
Results 1 to 10 of 24
  1. #1
    Join Date
    Jul 2009
    Posts
    20

    Default Are Savings Accounts and 401k Subject to Child Support Review

    Trying to determine what I need to worry about when filling out an I&E declaration. Are my savings accts and 401k subject to being factored in to the CS modification review? What about money given to me by a relative living with me to help with rent and bills? There is no contract or anything, just a monthly transfer into my checking acct.

    Thanks in advance.

  2. #2
    Join Date
    Dec 2007
    Posts
    529

    Default Re: Are Savings Accounts and 401k Subject to Child Support Review

    I only deal with NJ, but if I am right, most if not all states are based solely on Income. Your savings and definitely your 401k are NOT factors in the equation.

    As far as the relative help paying the bills. If it is not claimed on your income taxes it probably safe, but it seem like a fine line balancing on additional income, which is a factor on determining CS payment amount.

    But I guess you should state which State you are interested in to get an more accurate answer.

  3. #3
    Join Date
    Jul 2009
    Posts
    20

    Default Re: Are Savings Accounts and 401k Subject to Child Support Review

    i'm in California. it is not income actually. just the relative contributing a portion of the rent and the household bills (utilities, landscaping, water, cable/internet).

    i didnt mention before, but i am joint legal & physical custody of our 1 child together and have been paying CS since the divorce a few years ago without missing a payment and sometimes at her request even giving her CS check before I actually am required to.

    irritating, to say the least, to be put through this review. her new husband actually grosses more money than I do.

  4. #4
    Join Date
    Dec 2007
    Posts
    529

    Default Re: Are Savings Accounts and 401k Subject to Child Support Review

    Quote Quoting goodtimes
    View Post
    i'm in California. it is not income actually. just the relative contributing a portion of the rent and the household bills (utilities, landscaping, water, cable/internet).

    i didnt mention before, but i am joint legal & physical custody of our 1 child together and have been paying CS since the divorce a few years ago without missing a payment and sometimes at her request even giving her CS check before I actually am required to.

    irritating, to say the least, to be put through this review. her new husband actually grosses more money than I do.
    I never missed a payment in 17 years and was taken to court when my daughter turn 17, She is 19 now. Because her mother left her husband of 2 years. I guess she got use to the additional income the husband was making.

    She was awarded almost twice the amount I was paying. Now I live off my credit cards, month to month and use my tax refunds and the two months I get an a extra pay period to pay off the credit cards and start the cycle again. Good thing my car was paid off.

    Should be a law that says if you received x amount of years of monthly payments you can not use the courts to get more. What was good enough for 17 years should be good enough for the remaining years.

    Oh well...I feel for you. Good luck.

    Advice: Don't mention the relative helping out and hopefully it won't be questioned in court.

  5. #5
    Join Date
    Jul 2009
    Posts
    20

    Default Re: Are Savings Accounts and 401k Subject to Child Support Review

    your story seriously depresses me. wow!

    in my case, she knows that my relative lives with me. if i omit that from the I&E declaration, it will surely be brought up. this is why i am wondering how I can play that against her husband helping her out (obviously) with their household bills/rent and at least hope that it's considered a wash and the current CS order stays in effect.

  6. #6
    Join Date
    Apr 2009
    Location
    Somewhere near Canada
    Posts
    25,278

    Default Re: Are Savings Accounts and 401k Subject to Child Support Review

    Her new husband is also not responsible whatsoever for any costs of raising your child.
    An intelligent hell would be better than a stupid paradise - Victor Hugo

    Do not microwave grapes

  7. #7
    Join Date
    Jul 2009
    Posts
    20

    Default Re: Are Savings Accounts and 401k Subject to Child Support Review

    I understand that.

    but if my relative living with me and contributing to the household rent & bills can be factored in, why can't her husband living with her and contributing to the household rent & bills be factored in?

  8. #8
    Join Date
    Dec 2007
    Posts
    529

    Default Re: Are Savings Accounts and 401k Subject to Child Support Review

    Quote Quoting goodtimes
    View Post
    I understand that.

    but if my relative living with me and contributing to the household rent & bills can be factored in, why can't her husband living with her and contributing to the household rent & bills be factored in?
    In my eyes you are right...

    If I were you I would bring bills for example utilities bills, rent statement, ect...and try to show that the relative is not paying you rent but actually paying their share of the bills. Classify them as a roommate and not a relative and have them paying directly to the utility company instead of to you. Send the utility company two checks instead one. Same with the rent. Or find a way of explaining that their payments to you is not going in your pockets, but covering their share of the living expenses.

    I guess basically...If they are not paying over half the cost of living then I would think you can explain that their contribution it is not some kind of income, but it just their share of living in the place with you, even if their name not listed on the lease or mortgage. You are allow to have a roommate and their contribution is not a factor, the same as the husband is not a factor. It just how you explain it to the person who questioning it.

    If you get married your wife income not a factor...so I am not sure this relative will end up being a factor. Especially because your relative can up and leave at anytime. Doesn't make sense that he or she will be a factor.

    IMHO

  9. #9
    Join Date
    Jul 2009
    Posts
    20

    Default Re: Are Savings Accounts and 401k Subject to Child Support Review

    Thank you. I'm glad I was able to articulate my point and I appreciate your feedback.

    The relative does pay me in lump sum, but all bills are split down the middle and I pay 55% to his 45% of the rent.

    I guarantee her husband (relevant and/or admissible or not) pays all of the bills & rent because she technically does not show any income other than what the judge can impute (40 hrs @ min wage). She has worked under the table her entire life.

  10. #10
    Join Date
    Apr 2009
    Posts
    17

    Default Re: Are Savings Accounts and 401k Subject to Child Support Review

    In idaho the child support guidelines state that potential income can be determined by potential and probable earnings level based on the parent's work history, occupational qualifications, and prevailing job opportunities and earnings levels in the community. So if has a degree you can argue that she can make a certain amount but chooses not to work. Hope this helps.

    (c) Potential Income. (1) Potential earned income. If a parent is voluntarily unemployed or underemployed, child support shall be based on gross potential income, except that potential income should not be included for a parent that is physically or mentally incapacitated. A parent shall not be deemed underemployed if gainfully employed on a full-time basis at the same or similar occupation in which he/she was employed for more than six months before the filing of the action or separation of the parties, whichever occurs first. On post-judgment motions, the six month period is calculated from the date the motion is filed. Ordinarily, a parent shall not be deemed underemployed if the parent is caring for a child not more than 6 months of age. Determination of potential income shall be made according to any or all of the following methods, as appropriate:

    (A) Determine employment potential and probable earnings level based on the parent's work history, occupational qualifications, and prevailing job opportunities and earnings levels in the community.

    (B) Where a parent is a student, potential monthly income during the school term may be determined by considering student loans from any source.

    (2) Potential unearned income. If a parent has assets that do not currently produce income, or that have been voluntarily transferred or placed in a condition or situation to reduce earnings, the court may attribute reasonable monetary value of income to the assets so that an adequate award of child support may be made.

    1. Sponsored Links
       

Page 1 of 3 123 LastLast

Similar Threads

  1. Foreclosure: Foreclosure and Savings Accounts
    By overstressed in forum Real Estate Finance
    Replies: 1
    Last Post: 05-31-2010, 07:25 PM
  2. Removing a Lien on a Checking or Savings Accounts
    By tc347 in forum Child Support
    Replies: 2
    Last Post: 08-15-2009, 07:41 PM
  3. Divorce: Divorce and hidden savings accounts
    By october20052005 in forum Divorce, Annulment and Separation
    Replies: 3
    Last Post: 02-24-2007, 02:07 PM
  4. Estate dispute over checking and savings accounts
    By tshudt in forum Estate Administration and Probate
    Replies: 10
    Last Post: 01-22-2007, 08:49 AM
  5. Savings Bonds and Child Support
    By tngirl23 in forum Child Support
    Replies: 3
    Last Post: 07-05-2006, 09:13 AM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
 
Forum Sponsor
Custody Lawyer
Get help for your custody case. Consult a divorce lawyer for free.




Untitled Document