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inhertance

Posted in Kitchener, Location, Ontario, Separation by Questions on February 27, 2014

About to finalize a separation agreement. Husband will be inherting a large sum of money (around $1million) in the next 1-5yrs. Our 2 children are 16 and 14 and about to enter post secondary eduction. We have split custody with 1 child living with each parent. The current child support paid to me is only $250. Is the inheritance money, once received, considered a material change in condition and could it be considered to support the childrens post secondary education?

1 Expert Comment

  1. On February 27, 2014 at 5:18 pm
    A Family Lawyer said:

    Typically, the law in respect of child support would direct us to determine an appropriate amount of income from the inheritance and include that imputed income in the calculation of the payor’s income as determining income available to pay support. However, there are some cases in which assets, if income producing, whether generating income or not, can be assessed as to having that income portion and therefore income being imputed whether income is being generated or not. Interesting is the connection between the inheritance and obligation to pay post-secondary education expenses based on means and not necessarily income. You should consult with a lawyer to further discuss the issues. My thought is that the receipt of the inheritance would be a material change and considered available for post-secondary education expenses but you need to talk with a lawyer as to what extent the inheritance is available.

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