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  • Financial Inheritance

    Hi all,

    If my ex receives an inheritance, is that money counted as income? Should his child support payments to me go up with this income he will receive?

    Many thanks for your feedback.

  • #2
    No and no. An inheritance is not income, you are 'entitled'...to none of it.

    You really should go back and read about how CS is calculated, specifically line 150 on income tax return.

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    • #3
      Thank you for your reply, I really appreciate it.

      In terms in child support payable, how is it arrived at? It is line 150 on Canadian Tax return, correct? To be quite honest, I really don't know how the amount of child tax payable is arrived at. Might you know of a link I can read?

      Many thanks again.

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      • #4
        Originally posted by Where is the Light View Post
        I really don't know how the amount of child tax.
        I know that was unintentional, but oh my how it is accurate

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        • #5
          Originally posted by Where is the Light View Post
          Hi all,

          If my ex receives an inheritance, is that money counted as income? Should his child support payments to me go up with this income he will receive?

          Many thanks for your feedback.
          Nope. If it is a substantial amount it will be put into a family trust and accounted out of line 150 generally. The intent of the person who willed the money to the person in question was for that person to get the money. Not you or the children. The courts will not intervene.

          Warning: If you marry someone who has a rich family you won't see a dime.

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          • #6
            What some adults who can't rely on a big inheritance do is get a job instead. At least that's what I hear.

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            • #7
              What about medical settlements and lost wages...hefty medical settlements I might add?

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              • #8
                Originally posted by somethingelse View Post
                What some adults who can't rely on a big inheritance do is get a job instead. At least that's what I hear.
                rumours! :-)

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                • #9
                  Originally posted by somethingelse View Post
                  What some adults who can't rely on a big inheritance do is get a job instead. At least that's what I hear.
                  Or they become POTUS and hire their kids.

                  Comment

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