Should Child Support Include Retirement Accounts?
There’s a saying, “What Peter says about Paul, says more about Peter than Paul.”
A simple note can say more about a child than the person it was intended to hurt.
What does divorce do to our children?
How does inappropriate child support impact your child?
Child Support Retirement Accounts
When I first saw the video below concerning a California Divorce father protesting child support calculations, I was appalled that someone would even post such a thing to YouTube.
How selfish can you be to suggest you should keep your retirement fund and not support your kids?
What do you think? Is he a Deadbeat dad?
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Yes, He is a Deadbeat!
Divorced families have the responsibility to support one another through alimony and child support.
All assets should be considered in these calculations.
~ This is what this California divorce case enforces.
No, He’s Not a ‘Deadbeat!
If you consider some other Federal Law computations, you can make an argument to exclude Individual Retirement Accounts (IRAs) in child support calculations.
For example, the Federal formula for Federal Student Aid does not include IRAs.
As an extreme example (but it illustrates the point): an unemployed family whose only asset is 400,000 in retirement funds would qualify for Federal Student aid. The retirement fund assets are not included in calculations, however income from retirement funds is not excluded.
It’s unclear from the video whether California was going after his retirement funds as an asset in calculations or withdrawals from the funds (income).
But, if the Federal Government sets the example when it excludes IRAs for Federal Student aid, should states take a second look and possibly revise their child support laws to exclude IRAs?
Is he a Deadbeat Dad? What do you think? Tell us in the comments below.
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You can submit more information about divorce in California by completing our submission form beneath the clickable map on the State Military Divorce Laws page.