Child Support in Florida is an exemption??

[DivorceRuinedMe]

According to this link: http://www.bankruptcyinformation.com/FL_exemp.htm

Child support payments are an exempt asset. How does that work exactly? I'm confused. I always thought child support was INCOME and not an ASSET? Would that mean I don't count it as income? I am sooooo confused!

And can someone explain to me the wages portion of the exemption in that link. I'm wondering what that means too. TIA~

(I reposted this from the exemptions forum b/c no one seemed to know the anwswer down there and this forum gets a lot more action - LOL).

[spell]

In most cases this comes up when deadbeat mama or papa racks up a few thousand in unpaid child support.

Or else, let's say the honest ex was just in a pinch and handed over a $10,000 check on your way to your 341 meeting.

It's protected either way. Legally, it's not really your money, it's the kids', you're just taking care of it.... sort of.

[DivorceRuinedMe]

In most cases this comes up when deadbeat mama or papa racks up a few thousand in unpaid child support.

Or else, let's say the honest ex was just in a pinch and handed over a $10,000 check on your way to your 341 meeting.

It's protected either way. Legally, it's not really your money, it's the kids', you're just taking care of it.... sort of.

So, it would not apply if say I am saving money that I get from the ex for child support to use for the kids needs - like new clothes, shoes, medical bills, etc. That money is looked at like it should be spent every month when it comes in, correct?

[jbr12]

The way that it was explained to me is that since child support isn't a guaranteed source of money, it isn't considered income. At the end of the week, you may or may not receive child support.

However, if you are taking that income and putting it into a savings account, I think that may be a different story. I think you would have to prove that the money in the account is from child support. This is of course just my guess. I'm sure an attorney would be able to clear all of this up

[DivorceRuinedMe]

The way that it was explained to me is that since child support isn't a guaranteed source of money, it isn't considered income. At the end of the week, you may or may not receive child support.

Did you have a court order for your child support? I ask because the way my atty explained it, if there's a court order then it's money that is "guaranteed" to me and he has to count it as income. If my ex quits his job tomorrow, it's still up to me to go after him for the court ordered support amount because it's money that I'm supposed to be getting which I think is REALLY unfair. My ex knows he can just skip town and I won't have the means to go after him. And I have to count the fantom income even if it stops. Nice, huh.