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  • Freezing Asets

    Hi There

    Anyone know if you can freeze someone's assets prior to a child being born, in anticipation of them depleting their back accounts, selling property, etc?

    This is not a divorce or separation case. It is an anticipated child support case one the child is born....

    I'm really fearful he is a flight risk and will deplete their assets.

    I realized I should explain a bit more... He is not acknowledging the child, so I am requesting a life insurance policy as well as equalization as a dependent in his will to any other dependents he has. This is all once the child is born. So I anticipate he will try to start dumping assets to his significant other in an attempt to protect himself financially.

    It's a precarious situation to say the least
    Last edited by Bellbaby; 04-20-2016, 02:09 PM. Reason: Added info

  • #2
    You need to get an order for support and if available, file it with an enforcement agency like FRO. Freezing assets is only something the court or the sheriff can do. You can also request full disclosure on finances like bank accounts deeds etc. and request three years back. If you can prove he signed his assets over it will look bad for him.

    *not a lawyer, just my thoughts...

    Comment


    • #3
      Once the child is born you will need to prove paternity. You can either request a DNA test, the cost of which you may have to pay up front and be reimbursed if it comes back a positive match. Either that or the ex can acknowledge paternity, although that sounds unlikely.

      Once you've established paternity, you file a motion for child support and for Section 7 expenses (medical/dental/optical expenses, extraordinary expenses for extra curricular activities, daycare expenses etc). Once the judge has made an order, you file the order with FRO (or your provinces equivalent). You may also ask in your order that a life insurance policy be obtained with the child as beneficiary, but the amount would likely be limited to the amount of c/s owed over the next 15 or so years (figuring interest should the ex drop dead tomorrow).

      Getting an order that the ex is to put the child in their Will is almost certainly going to be unsuccessful. You can cut out anyone you want from your Will for nearly any legitimate reason. So unless the ex agrees to include the child, getting your ex to cause the child to be included will likely be a waste of time just chew up your money.

      It is extremely unlikely that a judge will freeze anything now as the child isn't even born, thus there are no arrears. The only way you could be successful is if you have it in writing that the ex would rather piss their money into a sewer than give you anything. And even then, without paternity being established and no support order, a judge wouldn't do anything anyway.

      Wait until the child is born, prove paternity and get an order for c/s. That is how it is going to have to happen.

      Comment


      • #4
        Originally posted by HammerDad View Post
        It is extremely unlikely that a judge will freeze anything now as the child isn't even born, thus there are no arrears.
        I agree and in addition the freezing of assets is generally not used to protect child support payments. Child support is based on someone's income and not their assets. In fact, in the situation you describe you will only be dealing with Form 13 and not Form 13.1. There are no shared assets between you and the other parent. Just because you are having a child with this person does not entitle you (or the child) to the other parent's assets. The child is entitled to a portion of the income in the form of child support which is a federal guild line.

        For example, someone who earns an income of 250,000 in Ontario according to mysupportcalculator.ca in a majority access situation would be paying 2,003.00 a month in Child Support or 24,036 a year. Do you think they are going to go to 0$ income so they are not obligated to support their child?

        Subsequently someone making 25,000 a year pays 200 a month or 2400 a year in support. Are they going to go to 0 income too just insure they don't have to pay child support?

        Good Luck!
        Tayken

        Comment


        • #5
          Originally posted by HammerDad View Post
          Getting an order that the ex is to put the child in their Will is almost certainly going to be unsuccessful. You can cut out anyone you want from your Will for nearly any legitimate reason. So unless the ex agrees to include the child, getting your ex to cause the child to be included will likely be a waste of time just chew up your money.
          As I understand it though, you CAN have a stipulation that the other parent must maintain a life insurance policy with the child as irrevocable beneficiary. If the other parent dies, and turns out not to have maintained such a policy, you can go after their estate for the amount.

          Comment


          • #6
            Originally posted by Rioe View Post
            As I understand it though, you CAN have a stipulation that the other parent must maintain a life insurance policy with the child as irrevocable beneficiary. If the other parent dies, and turns out not to have maintained such a policy, you can go after their estate for the amount.
            Problems with this:

            1. You have to hire an estate lawyer and you think family law is complex? Estate law can be a horrible nightmare. Especially if the estate itself has the money to defend against actions.

            2. Most parents with young children have an estate worth <50,000. It isn't worth the battle and the estate lawyers who are being paid from the estate will burn out the estate fighting your child's claim.

            3. That is why they order life insurance policies to be maintained. Because no one with young children will have an estate that could make up for the financial loss.

            4. Life Insurance is to be held by BOTH parties. Not just the one whom pays support. What is good for the goose is good for the gander.

            Good Luck!
            Tayken

            Comment

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