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My divorce decree states that I am to pay a part of my “bonus” as child support once the bonus is received each year. The specific wording says “bonus.” My question is: If my company states that they have no “bonus” program, but an “annual incentive plan,” am I obligated to make this payment? I would rather take the money and put it in a college fund for the kids instead.
Don't you just love it when unexpected money comes your way! The key to getting the most out of a financial boon is understanding ways to increase the positive impact that the money can give you. Dan Danford, MBA, CRSP of Family Investment Center explains the best ways to best enhance your life on those occasions when you are the beneficiary of an inheritance, unexpected bonus, or other financial windfall.
Question: I generally make about $60,000 a yr, and get some healthy bonuses twice a year. Should my bonuses be included in child support calculations if they are not guaranteed? Answer: I am not licensed in North Carolina and therefore cannot answer your question specifically to the laws of that State. In my jurisdiction your bonuses, overtime or commissions would be included in the calculation. If the extra income varies from year to year, the court can take a three year average in Missouri. |
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