FL Support Modification: Income vs Assets

[johnsonbunch]

Florida - Substantial income change, been 7 years since last order.
Was 50/50, estimate now 35% father/65% mother.
Father was self employed, closed business, and taken job with benefits. Insurance will now be on his side (was hers).
Can any of father's real estate assets (gained well after divorce) be used to figure child support? Or only his income?
Financial Affidavit looks like assets only have to be listed if pertaining to divorce.

 

[TinkerBelleLuvr]

Do these real estate items contribute towards income? I'm thinking rental income here.

 

[johnsonbunch]

No. Not rentals. Just a lake/vacation house and a piece of raw land.

 

[TinkerBelleLuvr]

Expense and asset worksheets do the "reasonbleness" checks on your income affidavits.

If my expenses show that I'm spending a 100K, but my income sheet says that I only make 10K, well - something is fishy.

 

[johnsonbunch]

As far as expenses to assets go, there is certainly debt payments related to the property, and it's co-owned with new wife.

It doesn't appear in the court's Financial Affidavit that assets even have to be listed unless it's a divorce. But there's concern that the ex-wife will try to go after husband's assets as a recourse to her child support being reduced. Just want to be sure our property is off-limits before I file the papers.

 

[TinkerBelleLuvr]

Child support is based on INCOME, not assets. So, the property is co-owned with a new wife. The new wife can be making payments just as easily as the husband. No - X wouldn't have claim on it.

Now, why is child support expected to go down?

 

[johnsonbunch]

Was 50/50 with wife paying insurance, plus daycare expenses. Now wife has a much higher paying job with no benefits. She'd been buying catastrophic individual insurance. Husband has had no income increase and great group health insurance. Current income split is about 35% husband/65% wife. Insurance moves to husband's side, daycare is eliminated, and worksheet suggests support would be decreased about $200/mo for the 2 kids.

 

[johnsonbunch]

Serving financials/tax returns to ex

Copies of documents need to be served to ex, but does that include just the Financial Affidavit? Or do I have to supply her joint tax returns from with new wife? No problem with current paystubs, but some info on returns seems a privacy issue since it concerns new wife. Petition is also to request her financials so worksheet can be completed.

 

[Gracie3787]

Copies of documents need to be served to ex, but does that include just the Financial Affidavit? Or do I have to supply her joint tax returns from with new wife? No problem with current paystubs, but some info on returns seems a privacy issue since it concerns new wife. Petition is also to request her financials so worksheet can be completed.

Answered in your other thread.

 

[Gracie3787]

No. Not rentals. Just a lake/vacation house and a piece of raw land.

No, those assets cannot be used to determine CS unless they are generating income.