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    Determining Income for Child Support – Severance Pay

    January 23, 2012 | Author

    When one obtains severance pay from his/her employer, it is considered income for the purposes of determining child support.  Most payors seem to believe that it is an asset rather than income.  This is incorrect.  Severance pay is income replacement.  As such, it is considered in evaluating child support obligations.

    The best approach is to treat the severance pay as being paid for over time for the employer calculated the amount and adjust the amount of child support.

    Please feel free to contact us to discuss your child support obligation or your entitlement to child support.

    Posted in child support, divorce, Domestic Agreements, lorne fine | Tags: , , , , , , , ,

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    The Information herein is provided for information purposes only, is not intended as legal advice, and should not be relied upon as legal advice. If you have any questions, regarding family or divorce law, please call Lorne Fine at 416-661-2066 or E-mail him at Lfine @ Torontodivorcelaw . com.