Inheritance

[garryintn]

What is the name of your state (only U.S. law)? Tennessee. I have custody of my son and my ex-wife pays child support. She received a very large settlement last year (4-6 million) and does not even offer to extend a little more help with our child. Can I have the child support raised since she has a considerably higher income now? Not to mention since the divorce, my income has decreased due to company downsizing. I had to take a large pay cut to keep a job of almost 30 years with the same company. Thanks in advance for any help with this.What is the name of your state (only U.S. law)?

 

[LdiJ]

What is the name of your state (only U.S. law)? Tennessee. I have custody of my son and my ex-wife pays child support. She received a very large settlement last year (4-6 million) and does not even offer to extend a little more help with our child. Can I have the child support raised since she has a considerably higher income now? Not to mention since the divorce, my income has decreased due to company downsizing. I had to take a large pay cut to keep a job of almost 30 years with the same company. Thanks in advance for any help with this.What is the name of your state (only U.S. law)?

Was it an inheritance or was it a settlement? Those are two different animals and the results could be very different.

In any case mom coming into a large amount of money may or may not translate into additional income. She would have income to the extent that the large amount of money produces income, but the large amount of money she came into would not be income itself.

Its also possible to inherit assets with a high value that actually do not produce any income...or produce minimal income.

However, for the sake of example lets say that mom inherits (not a settlement but an inheritance) of 4 million cash. Mom invests that cash into CDs that pay out 2% a year, or 80k. The increase to mom's income, and the amount that could be included for child support purposes is 80k.