1-877-797-9411
Contactez un avocat
DC Logo F-no-tagline
DC Logo F-no-tagline

Can my ex sue my company for child support?

Fill out the form below to receive a no-obligation consultation

  • This field is for validation purposes and should be left unchanged.

Anonymous Asked:

I have an incorporated company in which I have saved money over the years for my retirement. The company pays me $40 000 per year as I am now on early retirement. My ex says that even though I get only $40 000 a year from the company there is a lot more in the company and I need to pay more child support because of that. Can my ex somehow force me to pay child support based on the total investments my company owns? The money in my company is all I have to live off for the rest of my years.

Expert Comment:

Subscribe
Notify of
1 Comment
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Andrew Heft
6 years ago

If you are sole owner of your company then it will be expected that some of the yearly retained earnings of the company be declared revenue for yourself. If the retained earnings are there for purposes foreign to the development or survival of the company then they technically shouldn't be there and should be distributed to the shareholder.

You mention that you leave the money there as savings for your retirement. It is perfectly legal to do so and there is an obvious tax advantage to doing so also. Contrary to tax authorities however, your obligation towards the child will most likely cease before you reach retirement.

When it comes to child support, maintaining unjustified amounts of retained earnings is considered a way to defer revenue and reduce support which is unfair to the child insofar as the child's needs are in the immediate.

Latest Questions Asked:

DC Icon

Mutual divorce

What is the process & conditions of mutual divorce in Toronto & how much time it takes ?

DC Icon

Stock calculation during a divorce

Hi there, I have a question about calculation of stocks during separation. for example prior to marriage I had 100 shares of company X with a value of $1000 ($10 per share). At time of separation I have 200 shares of stock X worth $8000 ($40 per share ...

DC Icon

Can I divorce my spouse who lives in another country

My partner and I are amicable in getting a divorce, nothing to negotiate, she resides in another country and is not planning to return to Ontario. I'm wondering if there is a possibility to file forms online, or must I send the paperwork overseas and h ...

DC Icon

Forcing my spouse back to work when we separate

My wife has been stay at home mom for over 9 years of a 17 year marriage. I've wanted her to go back to work but she has found every reason not to go back. We are nearing separation and my income alone won't support 3 kids and 2 homes. We go into debt ...

DC Icon

I got married in Toronto and divorced in Mexico City. Do I have to register my divorce in Toronto?

I got married in Toronto to my Mexican ex-husband and we divorced in Mexico City in 2009. From what I understood from the divorce proceeding, the judge ordered the court to inform the Ministry of Foreign Affairs to notify the Canadian authorities of my ...

DC Icon

RESP

How is the remaining contribution room of a child's RESP shared (assuming an RESP is started but contributions are less than the maximum $50k per beneficiary) if no stipulation was made in the separation agreement? (Note: also assuming each parent cont ...

See All Questions
magnifiercrosschevron-down
1
0
Would love your thoughts, please comment.x
()
x