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Financial Issues This forum is for discussing any of the financial issues involved in your divorce. |
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#1
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Hi,
I know there is a sticky but is there any updated consensus for deducting legal fees in establishing myself as a recipient. Background would be currently it is 60/40 and thus shared arrangements (CCB was approved this way for us). To be clear, none of the legal feels are used to increase my parenting time. We are looking to impute income to the other side keeping a 50/50 NDI. This would result in child support my way per table. The net amount would be going her way. If the order is worded that I pay her X and she pays me y every month, will that fly with CRA. My lawyer did not seem to think so but I have seen it done anyone with more recent knowledge or worked for them being the net payor, please advise |
#2
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If you're already getting CCB, then CRA has no issue. I believe it just has to mention a pays b amount, b pays a amount, then it can say the set off amount. Not sure about any legal fee deductions.
I'm also not sure about your 50/50 NDI hopes. A reasonable income will be imputed on ex, then an offset amount will be determined based on both your table amounts. |
#3
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cra did ccb because 6/14 overnights is 43%, by hours I am 39.2%. Luckily our current interim order was set up for shared parenting and at low end of support yielding a 50/50 NDI split. But her income was 0 so it really would not have any impact. All of this is without prejudice and can be varied back to my first support payment.
say if actual income is 35K for her, the divorcemate software with shared custody will put low range at exactly 50/50 NDI so after taxes we would have the same disposable income In the case of imputation of income, the only difference is that the actual disposable income to her would be less as she is not actually working. |
#4
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I predict a similar outcome to mine. Income will be imputed, your cs will go down, and your ss equally increased. You won't see any real discount until ss terminates.
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#5
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seeing as how I have been overpaying by 2k a month from the first lawyer's error, any change to my actual amounts will be a blessing and there will be huge savings, like at most 4k less than what i am right now.
The retro side hopefully will be done now as opposed to trial, as on EP I am owed more than she has in assets and she just got a huge arrears award and surely she has not spent $50k already... I'd much prefer a higher CS credit than SS bc CS can be payed back over time where a very large SS credit is less than ideal because the end date is really unknown. |
#6
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Again, I believe your hopes are way too high on the equalization payment or any reimbursement you think you overpaid.
I would anticipate an equal split of money in trust and support payments to stay about the same. After a few years, spousal will end and you'll be left with offset. |
#7
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Re money in trust
My EP owed to me is around 110k..with evidence all backed up a split of the trust would be unequal distribution of the NFP. No basis for this. If the trust were to be split she would have to forego ss and then some. |
#8
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Are you saying that the overpayment of child support will not be given back? |
#9
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Basically at end of 2019 got changed licence designation so she could no longer work.
Marriage was short. Was not working outside of my practice for a few years. Multiple options to retrain and recertify in 16 months prior to changing licence. It's a strong argument that when she changed her designation she became underemployed. Based on my actual income, and the interim order is subject to review since it's inception with nothing imputted, cs is overpaid 12k, 27k with part time imputted to her. Maybe the differencr between my interim order and yours was the wording. If mine did not have that without prejudice, I'd be screwed on the retro |
#10
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Your wording of without prejudice wouldn't matter, or save you from being screwed. Temp, interim orders are wp.
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You agreed to your income twice, along with court, and have been paying so since. Only you believes there was an overpayment. It's highly unlikely to get the unemployed to pay you back for your error. Then spousal. You believe if you can impute ex an income, you'll get all your spousal "overpayment" back. Again, highly unlikely. Apparently you're a dr, yet you believe your unemployed ex will have no assets, owe you a huge EP, pay you back for spousal, before moving to offset. U ok? |
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