If you own an individual retirement account and withdraw funds for living expenses, can those funds be used in child support calculations? My ex has depleted an IRA of $197K within 2 years and transferred the funds into his personal accounts. Now, he is asking for a reduction in child support. Is there Child Support or NC Statue in which I can refer to or court ruling?
Payouts from a retirement account are not specifically included as income in the child support guidelines as they are not the same as income from the retirement account. I think there are arguments that would work for each party depending upon the facts and the reason for the withdrawals and motion to decrease.