Disclosure and extras...college, life ins


#1

Hi

I am set to go to court this week for child support, alimony, and interim ED. I have read that 401K can be considered as income for child support in addition to property distribution.

  1. If my spouse does not bring a current pay stub and does not disclose all of his investments (they have been moved, borrowed, sold, etc) since separation, how can the court fairly assess the situation?

  2. If I wanted to address extra things like college expenses or child support through college and maintaining his life insurance with our child as sole beneficiary…when would I ask about that?

Thank you very much


#2

A 401(k) is not considered income unless the owner is receiving it in retirement. What the court can do for purposes of determining alimony, is add the contributions the employee/participant is contributing monthly back into that person’s monthly surplus. This is not a factor in child support as gross income (prior to any deductions) is used for the calculation.

The court will not order a parent to pay for college expenses unless that party has agreed to do so in a contract.