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Child Support or Trust Fund?

Over_it75's picture

Hey there! I have a question maybe someone can give me some insight. I haven't looked into this to much but we recently had our SS move in with BM. He was 50/50 with both parents and now full time with BM. She has yet to ask for child support (I'm sure its coming) but my question is this, my DH doesn't mind having to pay for the care of the child, i.e. food, clothes, necessities, but we don't want to pay for her lifestyle, which she makes just about if not more then DH, she is not hurting by any means, but will of course pay for Child, but has anyone set up to where 1/2 CS goes to necessities and other 1/2 goes in a trust fund for say college, or a car, or something that the SS15 could utilize in the future?

Thanks Ya'll!

Over_it75's picture

WHAT!!! Can you really do that? I thought if she didn't ask for support, they can't go backwards and try to collect it? Please tell this isn't so??

It was a stab in the dark I know Blum 3

LochnessStepMonster's picture

O it is true. They can go back as far as they want. They will calculate back child support based on his pay now so if he was a janitor for 5 years then became President, that child support is based on the Presidential pay for thise last 5 years, not the janitor pay.

thinkthrice's picture

ditto that! They can go back to when the child(ren) was born!! And if he loses income, they can IMPUTE the amount that he WOULD be getting if the economy was in full swing so instant arrears!

Better start socking it away or move to a country with no extradition treaty; bwa ha ha. When people learn of Chef's situation, they say he needs either a hitman or needs to move to Belize!

Over_it75's picture

oh my gosh ya'll that's crazy!! I didn't know they could do that! Well we will then definitely move some stuff around and check out the support calculator to see where he may be at. I will definitely will also check out state requirements. SMH.

Indigo's picture

Most states have some form of "online child support calculator." Easy to use and should give your DH a ballpark idea of how much $$ he should be setting aside monthly. Remember to consider health insurance premiums, out-of-pocket medical expenses, braces, summer camps, sports, tutoring/lessons ...

In my limited experience in my state, the first child's support is about 25% of each parent's income. I would suggest that your DH is proactive and files a CS modification with your state --- don't need a lawyer for this in general.

Over_it75's picture

No court order changing anything, she is "encouraging him" to visit, but it's his choice, so we are trying figure out what to do, do we change it, pay CS, or do we wait and see if she does. Either way we are screwed. His choice, but DH has to pay.

BethAnne's picture

He could always negotiate something like that out of court. If it is BM investing the funds though, he would have no way of enforcing her to invest it. Also it would not count as cs if they ever do go to court so could end up biting him in the tail. Just be careful and get proper legal advice.

Over_it75's picture

Sorry not really anymore details, just trying to figure a way that it goes towards child and not mothers lifestyle (big parties, travels, paying for other kids cars, etc etc).