Legal Question in Family Law in New York
Getting Married-How to protect my Assets from money hungry ex?
My fiance and I are plannig to get married next June. His son's mother is money hungry and I am afraid that she will ask for a modification of child support based on my income. It should also be mentioned that my fiance and I have a one year old together. How can I protect my assets once we are married? I know that the easiest thing to do would be to file ''married, filing separately, but this would make me ineligible to receive credits for higher ed, (I am a college student) child care credits, etc. Please advise!!!
3 Answers from Attorneys
Re: Getting Married-How to protect my Assets from money hungry ex?
You need a legal consultation. This is mostly a tax filing issue. If you are a student, what is your income? Why would you lose credits by filing separately? It doesn't matter who claims your child or a mortgage deduction or anything else, but is it best if your incomes on are separate tax returns. If your fiance's ex takes him back to court, they will look at his w-2, paystub and tax return. Also, if you don't have an income, it doesn't matter if you are on his tax return. You can keep assets in your name, you can do a pre-nup, but it is probably not necessary. Kellie Gasink 212.883.1963
Re: Getting Married-How to protect my Assets from money hungry ex?
YOU ARE SMART TO CONSIDER YOUR FUTURE SPOUSE'S FINANCIAL STATUS RESPECTING CHILD SUPPORT; AND OTHER ISSUES AS WELL. OUTSTANDING DEBTS, JUDGMENTS, TAX LIABILITIES ETC., ALL CAN CREATE PROBLEMS FOR AN UNKNOWING SPOUSE; AND SHOULD BE FULLY DISCLOSED AND DISCUSSED.
IN NY ALL OF THE INCOME AVAILABLE IN A HOUSEHOLD MAY BE CONSIDERED FOR PURPOSES OF CALCULATING CHILD SUPPORT YOUR SPOUSE MAY BE REQUIRED TO PAY FOR HIS CHILD. THE CSSA FORMULA DOES, IN MANY INSTANCES APPEAR TO PENALIZE A HARD WORKING WAGE EARNING SPOUSE OF A NON CUSTODIAL PARENT.
HOWEVER, ASSETS ACQUIRED PRIOR TO A MARRIAGE REMAIN THE SEPARATE PROPERTY OF THE PERSON ACQUIRING IT.
IF YOUR FUTURE HUSBAND IS PAYING %17 OF HIS CSSA INCOME AND HIS APPROPRIATE PRO RATA SHARE OF ADD ONS, HIS INCOME IS NOT MINIMAL AND IT ASSISTS IN PROVIDING OR MAINTAINING HIS NON CUSTODIAL CHILD'S STANDARD OF LIVING, THEN THE EX MAY NOT OBTAIN UPWARD MODIFICATION BASED UPON YOUR INCOME OR ASSETS.
ALTHOUGH YOU ARE NOT RESPONSIBLE FOR YOUR SPOUSE'S CHILD BY A PRIOR MARRIAGE, YOU SHOULD BE WARNED THAT IF YOUR SPOUSE'S STANDARD OF LIVING IS SUBSTANIALLY RAISED BY HIS MARRIAGE, THERE IS LITTLE YOU CAN DO TO KEEP THE EX FROM TRYING TO MAKE TROUBLE. WHETHER SHE HAS A GOOD CASE OR NOT.
YOU MIGHT CONSIDER A PRENUPTIAL OR POST NUPTIAL AGREEMENT (PREPARED BY AN ATTORNEY) SPECIFIYING RIGHTS AND OBLIGATIONS AS BETWEEN YOU AND YOUR SPOUSE THAT ARE YOUR "WORRY" ISSUES.
GOOD LUCK
Re: Getting Married-How to protect my Assets from money hungry ex?
In NY, your income has nothing to do with the support of your fiance's child from a previous marriage. You have no legal responsibility to support a child which is not biologically yours.