Asked 5/25/2011
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Can municipal bonds be intercepted by child support enforcement? I have been left Municipal bonds by my father. They need to go into my name. Perhaps I will sign them over to my son. Can Child Support intercept them when they very briefly go into my name or can I just have them put in my name without this worry. |
Answer 1/2 - Submitted 5/26/2011
Municipal bonds are considered non-taxable income (excluding interest accrued), as is child support, so they may also be excluded from child support enforcement. Honestly I am not sure if there is some sort of shelter for municipal bonds in terms of child support. Your best option would be to consult with a lawyer on this matter, preferably someone specializing in divorce or tax law.
Answer 2/2 - Submitted 5/26/2011
Hi, defeated, and welcome to WebAnswers.
Child support enforcement would have no way of "discovering" the existence of the bonds, unless you tell them, and so, it has not the means of intercepting them.
But, as suggested above by ejknight, I would at least contact the attorney who handled your father's estate to see if they could be put in BOTH of your names. They would certainly have to be put in your name as trustee for your son, unless there is another trustee available, such as your ex.
I hope this helps you, somewhat. Thank you for choosing WebAnswers as your source™.
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