not married w/2 children

[baqa403]

Hi, I'm currently living w/the father of my 2 children who has been supporting the children since birth & myself since I stopped working after having my first child. He's now leaving & moving out at the end of the month. He says he will support the children & help me out as much as possible. We will try this method before going to court for child support etc. However, I will not have medical insurance once he drops me off current coverage due to new job. My concern & question is that I do have some money in the bank that I inherited upon my parents death. He does not know the amount but keeps referring to me using "daddy's money" If I put the bulk of this money in my children's name in a custodial account with me as the guardian and by chance we later end up in Court, can he get access to this money? Will he be able to find out about the amount of this money. He most likely will be the one to report them on his income taxes. I was told by my bank that as long as the interest is under $1,400 for the year, he would not have to know the amount. I'm also concerned that having this money in the bank will hinder me or the children from any type of support even such as medicaid for me; the children will always be on his coverage. Do agencies look at the children's bank accounts or information and consider that resources to me as the parent & guardian of the account? I would really appreciate any help or guidance in finding out more about this information & since I don't work right now, money is a big concern & issue for me. Thank you

 

[Duranie]

Well common sense says if you know this relationship is ending, you should find some sort of employment. Dad is not required to support you at all, only the kids and that is only if you file for child support.

I cannot answer the question on medcaid but you may not qualify for it with this money. I have no idea if transferring the money into the kids names would make any difference. Generally you would have to be on that bank account anyways since minors cannot have accounts.