Spousal Support also known as alimony is a way to ensure that unjust financial effects of divorce will not leave a spouse in peril. When a married couple divorces the court may award alimony to either spouse. During a legal separation proceeding, a court may impose a financial obligation on on spouse to continue supporting the other spouse after the divorce. Alimony laws vary from state to state and having a Family Law Layer to guide you through this process can help you come to a fair and just arrangement.
The amount of alimony may be determined by the length of the marriage, the ability of the payer spouse to support the recipient spouse and still support him or herself, the former standard of living, the length of the marriage, and the amount of time and education the receiving spouse may need to obtain education to become self-sufficient. Things such as age, mental and physical condition, and standard of living may also play a role in determining the amount of alimony and the length of time in which alimony will be awarded. Usually the higher wage earner will pay alimony to the other spouse in set amounts on a monthly basis until the other spouse remarries.
Alimony was usually awarded to wives by full-time working husbands. Times have drastically changed and so have the trends of alimony. Many marriages have two wage earners and women and men are viewed more as equals. Ex-wife to ex-husband alimony is on the rise, as the breadwinning spouse may now be the wife. If the spouses cannot agree on an alimony arrangement, a court will set its terms. Discussing your options with a Family Layer can save you the extra costs of a court proceeding and time.
Alimony issues usually arise when dealing with divorce. It always good to consider talking to a Family Law Layer to help guide you through your legal rights during this process.
When Alimony is in place it is important for both parties to keep accurate records. Alimony is taxable income for the spouse receiving it, and it is tax-deductible for the spouse paying it. Keeping accurate records can help you avoid future disputes with the IRS. Failure to keep records could result in the loss of tax deductions and you may even be ordered to pay back alimony that you may have previously paid.
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