Alimony


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Alimony

Periodic payments made to a former spouse (or a current spouse from whom one is separated). Alimony is tax deductible for the paying person and is taxable income for the receiving person.
References in periodicals archive ?
It will pull together the rules governing filing statuses, alimony, property settlements, dependency exemptions and other issues which are spread throughout the Code.
Alimony developed in response to a model in which wives were economically dependent on husbands who likely earned all of the income and held title to all of the property.
1980), is the seminal case on alimony awards in Florida.
Convert prospects into clients by simultaneously showing the after-tax impact of, up to five, alimony vs.
For example: Alimony is ordered at $6,000 per month, reducing to $4,000 per month Aug.
Letourneau is currently paying $500 a month in alimony, $400 a month for her former husband's health insurance, and, out of approximately $1.
Some gay and lesbians couples who decide to marry in Massachusetts could get a crash course in how legal divorces differ from past breakups: Not only will their split require a judge's signature, it also could require one spouse to pay alimony, share retirement savings, and split up a lifetime's worth of belongings.
Elias Hall's wife obtained a divorce on the ground of intolerable severity, as well as a sizeable alimony award.
You'll need records to determine the amount of income that must be set, aside for alimony or child support and who will be responsible for those financial obligations.
The amendment also changes two provisions of the law governing the Christian community: it removes a ceiling on alimony claims and limits to two months the time courts have to set preliminary alimony and child support amounts during a divorce trial.
Alimony is determined independent of the presence of a complainant, the amount of which is based on the following criteria: responsibilities and tasks during the marriage, the duration of the marriage, age, health, income and assets of both parties, and the future, continuing costs and responsibilities of children's guardianship.