Financial Gift and Child Support

[Stargate]

Greetings to all!

I am new here and have a question about financial gifts as it pertains to child support obligations. I am divorced and have two wonderful kids who I see regularly that reside with my ex wife. I have an aunt who is 86 years old living in Europe who wants to give me a financial gift (essentially a portion of her estate) before she passes on. She has no kids and I have always been her favourite nephew. The gift is about $40,000 in Canadian dollars. I just want to make 100% sure that BEFORE I accept this money that this one time lump sum gift cannot be attacked by my ex wife who may/will seek to have it added on as "income" and thus have my child support sky rocket. I have read some horror stories on the Net that some custodial spouses have gone to Court to get capital gains, etc. given to the non custodial parent deemed as "income" and won their case in Court!

My ex wife is employed making about $65,000 a year, my child support obligations are all up-to-date and I would use the financial gift to buy a new house.

Can anyone with legal knowledge on this subject please help me?

Tia!!

Stargate

[standing on the sidelines]

got this off a justice website, talk about vague.

If you have received a one-time amount of money (for example, an inheritance) all, some, or none of this amount may be included.

[babybluetigger]

Unfortunately to my knowledge, your ex can stake claim to any inheritance or winfall you receive. My suggestion is to have her make a cheque out to someone other than yourself, cash it, and keep it as cash....for cash is not traceable. Otherwise you will have to share it. As guidelines state, 'children shall continue to live the lifestyle of the parents as if they remained together', therefore, any extra to you, is extra to them. Be very careful! Good luck.

[Charlie]

It seems to me that this so called "legal system" encourages you to be dishonest just to survive and keep whats yours.The "lawyers" are the real crooks and the judges don't seem to have a lot of common sense to see through this crap.

[Stargate]

Thanks for all the replies. There is NO way on this planet that I will share this with my ex, nor is there any justification for this. Family law in Canada/Ontario pushes people to be dishonest. I will be forced to have this gift deemed as a loan vs. a gift to get out from under this corrupt law.

[standing on the sidelines]

Originally Posted by Stargate

Thanks for all the replies. There is NO way on this planet that I will share this with my ex, nor is there any justification for this. Family law in Canada/Ontario pushes people to be dishonest. I will be forced to have this gift deemed as a loan vs. a gift to get out from under this corrupt law.

that sounds like the best way.

[PhoenixRising]

I read in a post recently that a loan would also be included as income on financial disclosure. It was a post on one of the forums I read recently.

I would call a legal advice hotline to get some advice on the topic.

[Charlie]

If the loan or gift comes after ex has filed a separation date or there has been an agreement on separation can i claim on hers and can she claim on mine? my wife is after support but if her father bought her a house is half of it mine? who makes these crazy laws ?

[Stargate]

Originally Posted by Charlie

If the loan or gift comes after ex has filed a separation date or there has been an agreement on separation can i claim on hers and can she claim on mine? my wife is after support but if her father bought her a house is half of it mine? who makes these crazy laws ?

All assets and debts are equally split from the date of separation. Date of separation is the key date for division of assets and debts to that point.
If she bought a house AFTER the date of separation you're out of luck. It's hers and you have no claim on it.

[representingself]

Is there any way you can hide the money... RRSP? RESP?Canada Savings Bonds? Investments? Just don't say anything about it to her?

In a divorce, inheritance money and the items purchased with said money are 'excluded', so why would this money be any different?

I'd definitely talk to a tax accountant about this.

Maybe your Aunt can buy you a new car or something, instead of giving you the cash?