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Posts tagged "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 involved the ex-husband paying a monthly sum to the ex-wife in the event of divorce.

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, most states don't even call it alimony. Instead, it's called spousal support.

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.

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 issues revolve around money.

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 disparity between the spouses in the wake of a divorce, then alimony -- also called spousal support -- could be awarded.

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