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do savings affect maintenance

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harbour80
Posted by
New Member

04 Sep 11 #286253 by harbour80

Topic started by harbour80

Just a query
For varying reasons, my ex has chosen to give up working, and has around 20K savings. My question is - does savings affect child maintenance payments?
Thanks

Fiona
Platinum Member

04 Sep 11 #286259 by Fiona

Reply from Fiona

In this case having savings won't affect CM because there aren't enough. It is possible for the parent with the majority of care to apply for a variation to CM when the parent paying maintenance has assets over £65k (not including their home!).

If the savings originated from contractual redundancy payments as opposed to statutory redundancy my understanding is that the CSA would count the payments as income for CM purposes.

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