will a prenuptial keep me from paying his child support??

[queen817]

What is the name of your state? Texas

Hi. I am fixing to get married to a gentleman who has 2 children. After the marriage I am hoping to open a business of my own that I personally have always wanted. If this business in under my name primarily will he still have to pay extra child support from the profits we make on the business? If so could a prenuptial agreement help me protect my assets (my future business) from his ex ever attempting to make claims on it and asking for mor child support? Thanks

 

[MomTryin2Improv]

Generally speaking, a step-parent's income can not be used to calculate child support. Generally speaking.

 

[stealth2]

However, any income HE derives from your business will provide a basis for a modification of support.

 

[ceara19]

AND if your business venture is financed (either in part or wholly) with marital funds, it is marital property and 50% of the profits can be used when figuring child support.

 

[weenor]

AND no a prenup is a contract between you and him and has nothing to do with ex's rights or child support for their children.

 

[xylene]

You are marrying someone with children.

Yes, you need a prenup.

It is to protect you, not him.

Consider talking to a lawyer before you marry this guy.


AND / OR

Consider not getting married. Live in sin (call it what you like) and avoid him supporting his kids (your future STEP-children, and it is easy to see that means nothing to you.)

 

[ceara19]

You are marrying someone with children.

Yes, you need a prenup.

It is to protect you, not him.

Consider talking to a lawyer before you marry this guy.


AND / OR

Consider not getting married. Live in sin (call it what you like) and avoid him supporting his kids (your future STEP-children, and it is easy to see that means nothing to you.)

Living together affords the OP absolutely NO protection under the law. Plus, it's not going to protect a joint business venture from being included in child support calculations. As weenor has already explained, any agreement between the OP and the future husband has no effect on the mother of the children. SHE is in no way obligated to abide by the terms of any contract that she is not a party to.

 

[abstract99]

OP, do you not think that dad should support his kids out of the income he receives from your job? Or do you just want to be selfish and allow him to keep dads money all to yourself? You can put the company in your name to keep a lein put n it but that all depends on the prop laws in your state. Some states. as far as I know, consider some things such as housing and self owned businesses to be joint assets no matter whose name they were in. A prenup will prevent him from being able to take the prop in the event of a divorce but that is all.

 

[LdiJ]

I am interpreting this a little differently from the rest. I thought that her initial post indicated that the business she wanted to open would be solely hers, and that she would be the only one working in the business.

If so, then it would be no different that her having income from employment.

 

[nextwife]

I am interpreting this a little differently from the rest. I thought that her initial post indicated that the business she wanted to open would be solely hers, and that she would be the only one working in the business.

If so, then it would be no different that her having income from employment.

I agree. I have a friend who owned a partial interest in a family furniture store. She married a man who paid child support, and gott a prenup which DID prevent her income, and the reinvested income of the business, from becoming subject to CS.

I'd also suggest she form an LLC or corp., and use a good business accountant and accounting program - documenting all business loans and their payback. Also tracking all her R&D, marketing, and operational expenses.

 

[haiku]

I agree. I have a friend who owned a partial interest in a family furniture store. She married a man who paid child support, and gott a prenup which DID prevent her income, and the reinvested income of the business, from becoming subject to CS.

I'd also suggest she form an LLC or corp., and use a good business accountant and accounting program - documenting all business loans and their payback. Also tracking all her R&D, marketing, and operational expenses.

smart information for ANYONE thinking of starting thier own business.

 

[weenor]

I agree. I have a friend who owned a partial interest in a family furniture store. She married a man who paid child support, and gott a prenup which DID prevent her income, and the reinvested income of the business, from becoming subject to CS.

I'd also suggest she form an LLC or corp., and use a good business accountant and accounting program - documenting all business loans and their payback. Also tracking all her R&D, marketing, and operational expenses.

The prenup gotten by your friend would be worth nothing if an ex spouse could show that the business income was part of his income. Income is joint or its not. Her money can't be touched, but some portion of THEIR money can. All the prenup can do is provide evidence that he is not taking money or an interest in the business. It is not binding on the ex.

 

[jslopez711]

I agree. I have a friend who owned a partial interest in a family furniture store. She married a man who paid child support, and gott a prenup which DID prevent her income, and the reinvested income of the business, from becoming subject to CS.

I'd also suggest she form an LLC or corp., and use a good business accountant and accounting program - documenting all business loans and their payback. Also tracking all her R&D, marketing, and operational expenses.

I too agree with this statement. As for his ex, it would be extremely difficult if he is not working for you. It is 20% of his take home from where he receives his W2. Here is what the code says.



§ 154.062. NET RESOURCES. (a) The court shall calculate
net resources for the purpose of determining child support
liability as provided by this section.
(b) Resources include:
(1) 100 percent of all wage and salary income and other
compensation for personal services (including commissions,
overtime pay, tips, and bonuses);
(2) interest, dividends, and royalty income;
(3) self-employment income;
(4) net rental income (defined as rent after deducting
operating expenses and mortgage payments, but not including noncash
items such as depreciation); and
(5) all other income actually being received,
including severance pay, retirement benefits, pensions, trust
income, annuities, capital gains, social security benefits,
unemployment benefits, disability and workers' compensation
benefits, interest income from notes regardless of the source,
gifts and prizes, spousal maintenance, and alimony.
(c) Resources do not include:
(1) return of principal or capital;
(2) accounts receivable; or
(3) benefits paid in accordance with aid for families
with dependent children.
(d) The court shall deduct the following items from
resources to determine the net resources available for child
support:
(1) social security taxes;
(2) federal income tax based on the tax rate for a
single person claiming one personal exemption and the standard
deduction;
(3) state income tax;
(4) union dues; and
(5) expenses for health insurance coverage for the
obligor's child.

Added by Acts 1995, 74th Leg., ch. 20, § 1, eff. April 20, 1995.
Amended by Acts 1995, 74th Leg., ch. 751, § 41, eff. Sept. 1,
1995.


I'm still trying to figure out what on earth does "spousal maintenance" is.

 

[ceara19]

I am interpreting this a little differently from the rest. I thought that her initial post indicated that the business she wanted to open would be solely hers, and that she would be the only one working in the business.

If so, then it would be no different that her having income from employment.

What she actually said was that the business would be solely in her NAME. The assumption that he will be involved in some manner is due to the fact that she is waiting until AFTER she is married to start this business. If he assists financially in getting the business started, the mother can argue that he is a part owner and that a portion the profits (which there may be no profit for quite some time) should be considered for the purpose of child support.

To me, it sounds like she wants to know if putting the business in her name only will protect the profits from being considered as income for the new husband.

 

[ceara19]

I'm still trying to figure out what on earth does "spousal maintenance" is.

It's just a form of taxable income that falls into the same category as alimony and spousal support.