Imputing income based on continuous and regular gifts from parents
Postjudgment downward alimony modifications in Florida
Obligations of financial support for ex-spouses of sponsored legal residents
Exploring the new provisions of the Tax Code regarding the coming nondeductibility of alimony
Given Florida’s popularity as a retirement destination, the issue commonly comes up about how to structure alimony when divorcing parties are nearing retirement age. This is a multifaceted question of some complexity.
The Tax Cuts and Jobs Act has many controversial provisions, but one will have significant impact on many divorcing couples. The new tax law makes an unexpected change to a tax arrangement that has been central to American divorces for three-quarters of a century.
It was not only hurtful but also insulting when you found out that your spouse was cheating on you. You knew that you wanted to get a divorce immediately, because you could never forgive him or her for doing so.
As a man in an unusual situation, it's important that you understand alimony. You may have been a stay-at-home father, or perhaps you put your career on hold for your spouse. Whatever the reasons were, if you're not where you wanted to be in your career, alimony is one way that your spouse can make up for that.
When you're going to be paid or going to pay alimony, there are records you should keep. Preparing for what you need now can help you avoid trouble later. These records are important for your own recordkeeping as well as for the courts and your taxes. Alimony is tax deductible for the person paying and needs to be reported by the person receiving it so that he or she can pay taxes on the sum.
Although you may not want to pay spousal support to your spouse upon divorce, it's important to recognize the purpose of it. Spousal support, also known as alimony, is awarded to help limit unfair economic effects of a divorce. For instance, if you have been the sole provider and your partner was a stay-at-home parent, then alimony may be paid to help your partner while finding a job or going back to school to start a new career. Alimony may also be awarded to help your spouse continue to live at the same standard that you do now.