There has always been something of a wage gap between the genders, with women earning less money than men. However, there is one potential sign that the gap has been shrinking: Women who get divorced are being told to pay alimony more often.That suggests that these...
Alimony
The non-specific face of spousal support
In our previous post, we shined the spotlight on how fluid the concept of spousal support has become over time. Back in the day when the common model had husbands working and wives taking care of the home, spousal support, or alimony as it was then known, usually...
What must I show to seek spousal support?
There was a time when divorce meant one spouse paid alimony to the other. In those days, the usual equation had the husband paying that money to his ex-wife. This was in addition to child support. Today, that equation isn't necessarily the one that applies. Indeed,...
How does the IRS define alimony?
As personal an event as divorce is, it is not something anyone goes through alone. At the very least, the hand of the government weighs in and will seek to be sure that tax obligations continue to be met one way or another. The scope of tax implications stemming from...
Flip side of the coin on lump sum spousal support
Divorce, even in its simplest form, is not very simple. There are many ways to go about dissolving the marriage and identifying the one that is best for your situation can feel daunting. The emotional aspects certainly require attention. But perhaps the most pressing...
The upsides to taking a lump sum in alimony
Traditionally, alimony payments are made in monthly installments. For instance, your ex may be ordered to pay you $2,000 per month in support. That works out to $24,000 every year for a set amount of years. However, some people opt to take a lump-sum payment. For...
To assure long-term security in divorce, remember the QDRO
If you were to receive a note that started, "GAS 2U," would you be offended or take it in stride? The answer depends on how comfortable you are with acronym writing. For the record, the phrase above translates as, Greetings and Salutations to you. Such language...
How ‘something old, something new’ might apply to alimony
Something old, Something new, Something borrowed, Something blue. There can't be many in Ohio, or perhaps the whole Western world, unfamiliar with that rhyme. It has come down through generations as a list of things a bride should wear on her wedding day to bring good...
Stay organized if alimony is awarded
There are so many issues involved in a divorce. If you have children, custody and support payments will be central to divorce talks. If a bevy of assets are involved in your marriage, then property division will play a huge role. And if there is a potential financial...