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When a husband and wife separate, the parties may agree that one will pay the other alimony, which serves as a type of reparations for emotional and physical damages.Most people do not understand alimony and seriously damage their finances for years.
Because of reform in the bankruptcy laws, filling for bankruptcy due to a divorce, in order to get out of paying alimony or for the divorce, is no longer allowed. Learn Read More
Alimony payments are financial support payments made by one ex-spouse to the other after a divorce. Most states do not have set laws governing alimony payments. It is Read More
Alimony is money paid to a former spouse where the amount of money and terms of payment are agreed upon between the two former spouses or court ordered. Most states have no Read More
Alimony, also known as spousal support, is designed to offer the spouse with lower income financial support by awarding them a portion of the income of the higher paid Read More
You can reduce the amount of alimony you are paying if you have a certain percentage of financial change. Different states have different rules. You must check into your Read More
To determine when alimony or child support is taxable, consider alimony as a deduction for the payer and an income for the payee, while child support is never taxable. Read More
Alimony payments are deductible as an adjustment to gross income. This lowers your taxable income and reduces your taxes. Read More
AGI--adjusted gross income--is your gross income minus allowable tax deductions. Some of the allowable deductions are education deductions, moving expenses and alimony Read More
You're considered divorced for the entire year in which you receive a final decree of divorce. A divorce person's filing status may be Single or Head of Household if the Read More
Many think that filing for bankruptcy is the key to erasing all debt. This, unfortunately, is not totally true. It all depends on the type of bankruptcy you are filing for Read More
Paying alimony helps the former spouse who needs money for her education, health reasons, financial support and so forth. It is a part of the agreement when the marriage Read More
You can ask for spousal support in family court before you even file for divorce. You can also ask the divorce court for temporary alimony while your divorce case is being Read More
There are occasions when a former spouse has to take action to collect delinquent alimony payments. Being informed about your rights and the process in your state will help Read More
When you are going through a divorce, it is difficult to discuss any subject. Alimony is even more difficult to discuss. You are ending your marriage, and one spouse is Read More
Alimony, or "spousal support," goes a long way towards easing the transition from married to divorced. It is an income paid to one spouse by the other when the marriage has Read More
Alimony payments are divorce settlements
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