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Hi Guys,
I've been away for a while plugging along with my custody issues and also since I last had issues I'm now 5 mins away from my kid instead of 5 hours and this forum helped me A LOT with that.
I have a question about inheritances and support.
If I came into a lump sum of say, £30,000 would my child's mother be entitled to any of it?
Also, if I was made redundant would she be entitled to a lump sum from me of that final "wage" packet?
Cheers.
Rik.
Hi Rik, as far as I know, the CMS use the same figure as the CSA, and that says if you have more than £65k in assets (not including your main house), then that is assessed for maintenance, so £30k is fine as long as you don't have any other assets taking you over the £65k.
Same goes for redundancy - though any payment in lieu of notice is taxable and would be assessed, it's the redundancy payment itself (which is tax free up to a limit) which is treated as above. If you are made redundant, make sure you notify the CSA/CMS (assuming there is a case open) as soon as it happens so they can reassess you - they will only do this from the date they are notified, so if you don't do it immediately, you continue to be liable for maintenance at the current rate.
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