I’m dealing with a situation where my ex is contesting child support because my financial assets have significantly increased several years after our divorce was finalized. Our incomes are about the same, but my assets have grown, while theirs haven’t.
I’m a bit confused because the child support calculator I’ve seen doesn’t ask about assets …just income. Is there any case where assets can impact child support calculations in California? Could this lead to a modification of the existing support order?
Selling a house and moving to a lower cost of living area is a practical financial decision, not an unexpected windfall like winning the lottery. In most cases, this isn’t a reason for a judge to modify financial agreements, especially if you can demonstrate that this was a strategic move rather than a sudden financial gain. Your ex has the same opportunity to make similar decisions if they choose.
You’re right, through it’s rare, assets can sometimes be considered in legal decisions, depending on the specifics of the case. Judges do have the discretion to assess each situation uniquely, taking into account various factors, including the intent behind asset management and how it impacts the overall financial picture. However, it’s not common for assets like the sale of a home to lead to a significant change in financial obligations unless there’s something exceptional about the circumstances.
My ex had slightly higher income at the time of divorce so I receive modest child support. I just sold a house in California. Huge profit. Moving to a lower cost location so most of the proceeds will be invested. Roughly equal higher income but now I have easily double the assets. Ex wants to receive child support instead of paying.
You’re right. Generally, child support is determined based on income rather than assets. However, judges do have the discretion to consider various factors, including the financial resources of each parent, when making decisions about child support.
If the assets are substantial and the incomes are low, a judge might take that into account, especially if those assets can generate income or significantly impact a parent’s financial situation. However, in cases where both parents have decent incomes and the assets are more modest, it’s less likely that assets alone would lead to a significant change in child support arrangements.
The key takeaway is that while assets are typically not the primary focus, they can be considered in the context of a broader assessment of each parent’s ability to support the child. Consulting with a family law attorney would be beneficial to understand how this might apply in your specific case.