lawsuit settlement = more CS ?

[xrevvyx]

What is the name of your state? NY
quick question -
if you're current with your CS - and receive a lawsuit settlement (or win the lottery - or hit it big in Las Vegas) would that be included as income for a CS increase ? or since its a one time payment is CS just calculated from your wages

reason - my husband has a lawsuit settlement that is about to be paid - and we want to use that money towards a downpayment on a house - he is current on CS -

 

[kidoday]

]http://assembly.state.ny.us/leg/?cl=42&a=27[/url You will need to copy and past this link into your browser.

I don't know specifically on lawsuit monies, but I do know that inheritance, and lottery winnings are included in CS.

 

[amarie]

They are not counted in CS, you could win 200 million dollars in a law suit and none would go to your CS.
amarie

 

[kidoday]

amarie

I don't think you copied and pasted my link.

It doesn't state specifically that law suit monies may be included in cs. But here is what a portion of the guideline states:


(e) Where a parent is or may be entitled to receive non-recurring
payments from extraordinary sources not otherwise considered as income
pursuant to this section, including but not limited to:
(1) Life insurance policies;
(2) Discharges of indebtedness;
(3) Recovery of bad debts and delinquency amounts;
(4) Gifts and inheritances; and
(5) Lottery winnings,
the court, in accordance with paragraphs (c), (d) and (f) of this
subdivision may allocate a proportion of the same to child support, and
such amount shall be paid in a manner determined by the court.

I read this as the lawsuit monies can be included.

 

[xrevvyx]

anyone else ?
if it CAN be included - is it at the time of settlement or when we file for taxes or just at the next CS mod -

what if it is spent by then (ie. downpayment on a house) -

 

[xrevvyx]

bump bump bump -

 

[kidoday]

I have a question for you.

Does the ex know about this lawsuit? The reason I ask is if she doesn't know about it how is she going to know that you came into money to be garnished?

IMHO, she doesn't need to know where money came from if you put a down payment on a house. And actually since the law stated that it could be considered I think by your husband putting the money on a down payment for a house that would be considered in the childs best interest.

But of course I am speculating.

 

[xrevvyx]

hmmmm -
well no she has NO idea -
doesnt even know we were in an accident -
but i'm afraid that since he will have to declare it on income tax (i am assuming here) then the court would find out -

i think the next time a modification comes up he will just be using his W2's for income info - since we will be filing jointly - but i wonder if they will consider us hidding the money ...