Question from Alan24, Do House Sale Proceeds After Divorce Count as Income for Child Support?
Answer from AI:
When a house is awarded in a divorce in Wisconsin and later sold for a higher price than its appraised value in the divorce decree, the question arises whether the sale proceeds count as income for child support purposes. Here’s a structured approach to understanding this issue:
1. Understanding Child Support Income
- Definition of Income: In Wisconsin, income for child support is broadly defined and can include various sources beyond traditional wages. This may encompass earnings, investments, and potentially capital gains from asset sales.
2. Sale Proceeds and Capital Gains
- Capital Gains Consideration: The profit from selling the house could be viewed as a capital gain. Wisconsin law may consider such gains as income, depending on the context and frequency of such transactions.
3. Divorce Decree Terms
- Decree Specifics: The terms of the divorce decree are crucial. If the decree includes provisions on how asset sales are handled post-divorce, this will influence whether the proceeds are deemed income for child support.
4. Frequency of Sales
- One-Time vs. Recurring Sales: If the sale is a one-time event, it may not be considered income. However, if selling assets is a regular occurrence, it could be viewed as a source of income.
5. Consultation with Legal Professional
- Legal Advice: Given the complexity of family law, consulting a family law attorney is advisable. They can provide insights based on Wisconsin’s specific statutes and case law.
6. Research and Resources
- Wisconsin Guidelines: Reviewing Wisconsin’s child support guidelines may offer clarity on how asset sales are treated. Relevant statutes or case law could provide direct answers.
Conclusion
The determination of whether sale proceeds count as income for child support in Wisconsin depends on the legal definition of income, the specifics of the divorce decree, and the nature of the sale. Consulting a legal professional is recommended for personalized advice tailored to your situation.
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Disclaimer: The information provided in this response is intended for general informational purposes only and should not be considered as legal advice. While we strive to provide accurate information, we make no guarantees regarding the accuracy or legal validity of the information presented. Laws and regulations vary by jurisdiction and can change over time, and the application of laws can vary widely based on the specific facts and circumstances involved. Therefore, you should consult with a qualified legal professional before making any decisions related to legal matters. Do not rely solely on the information provided in this response for any legal decisions. We disclaim any and all liability with respect to actions taken or not taken based on the contents of this response.
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