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Financial Gift and Child Support

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  • babybluetigger
    replied
    Why can't you just have her give you cash! A loan is considered money for investment, but cash isn't traceable. Cash is the only answer. Loans are considered accessible money. Again, I imply, if it has to be a cheque, make it payable to your aunt and have her cash it and give it to you. Then you needn't share with your ex.

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  • representingself
    replied
    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?

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  • Stargate
    replied
    Originally posted by Charlie View Post
    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.

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  • Charlie
    replied
    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 ?

    Leave a comment:


  • PhoenixRising
    replied
    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.

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  • standing on the sidelines
    replied
    Originally posted by Stargate View Post
    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.

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  • Stargate
    replied
    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.

    Leave a comment:


  • Charlie
    replied
    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.

    Leave a comment:


  • babybluetigger
    replied
    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.

    Leave a comment:


  • standing on the sidelines
    replied
    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.

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  • Stargate
    started a topic Financial Gift and Child Support

    Financial Gift and Child Support

    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
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