starting a business in ny and child support

[jayman306]

I live in ny and am thinking of starting a business.. I plan on starting an llc and drawing a paycheck off the company. Question i have is can my ex come after me for what the company is worth or just what my paycheck is.. which she will still be getting more than she is now..should i put the company in my wife or sisters name.. im not trying to screw my child out of anything. he gets all he wants and needs from me.. including a starting a college savings plan for him...

 

[mistoffolees]

I live in ny and am thinking of starting a business.. I plan on starting an llc and drawing a paycheck off the company. Question i have is can my ex come after me for what the company is worth or just what my paycheck is.. which she will still be getting more than she is now..should i put the company in my wife or sisters name.. im not trying to screw my child out of anything. he gets all he wants and needs from me.. including a starting a college savings plan for him...

It depends. You haven't provided enough information to know.

As a general rule, if you start an LLC after divorce using separate funds, your ex would not be entitled to any of it. She would be entitled to file for child support based on not just the paycheck you draw from the LLC, but any profits in the LLC - whether you take a distribution or not.

Putting it into your wife or sister's name is fraudulent and probably a felony if you're doing it to escape paying child support. Furthermore, you run the risk of getting divorced from your current wife - and finding out that SHE owns the business.

And, whether you like it or not, hiding your income in order to reduce your child support IS cheating your child.

 

[jayman306]

we were never married just a child together... im not going to put it in anyone elses name to pay less child support.. the support i already pay her has her in a house while my wife my stepson and myself live in an apt.and she has a $400/mo car payment and only makes 30k a year.. shes just a bitter ex who like to see me struggle...i have no problem paying my share of support but she will try to get all my money as she already takes me once a year for more money and will not let me and my family get ahead

 

[LillianX]

we were never married just a child together... im not going to put it in anyone elses name to pay less child support.. the support i already pay her has her in a house while my wife my stepson and myself live in an apt.and she has a $400/mo car payment and only makes 30k a year.. shes just a bitter ex who like to see me struggle...i have no problem paying my share of support but she will try to get all my money as she already takes me once a year for more money and will not let me and my family get ahead

You DO know that the court orders child support, right? That it's based on a formula, and not the whims of your ex-wife? She has no more say in how much you pay than you do.

 

[Proserpina]

You DO know that the court orders child support, right? That it's based on a formula, and not the whims of your ex-wife? She has no more say in how much you pay than you do.

Exactly.

And further, OP? Is your wife receiving child support for her child?