| Divorce & Social Security vs. Child Support
To make a long story short, I have been going through a divorce now for almost 2 years. During that time, my hopefully soon to be ex has transferred his business to his oldest son and has "semi-retired" and just started drawing early social security. He was paying child support, but due to the fact he has started drawing SS our 17 year old son is eligible to receive SS also. The information I received leads me to believe the amount my son will receive will be reduced if he works a summer job and part time during the school year. Also, it seems that the SS my son will receive could be taxable which would make the value less for him, especially since child support is not taxable. I also think the SS would be counted as income (though not sure) when applying for financial aid for college. Does anyone have any experience in this area? My lawyer is deposing my husband (for the second time) in early August and I would like to be ready with as much info as I can. I have requested some info from the IRS, but any input I can receive from someone who may have dealt with this would be appreciated. TIA
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