This Alimony section covers the basics of spousal support, the various types of support, including temporary and lump-sum alimony, how to determine eligibility, calculating payment amounts, important records to save when paying or receiving alimony and much more. Alimony or spousal support is the payment from one spouse to another after divorce to improve one party's financial situation, considering their circumstances both before and after the divorce.
The court can decide a certain amount of support is necessary or a couple can agree to an appropriate amount of spousal support on their own.
Many factors go into determining the spousal support amount, such as the age and physical condition of each former spouse, the length of time needed for training or education to become self-sufficient, and the standard of living during the marriage. However, the guidelines and factors vary by state. The alimony basics article in this section outlines what you need to know. Most states have certain requirements you must meet to be eligible for alimony or spousal support. For example, you may have to have been married for over a certain number of years, such as 10 years.
You may also need to have limited education and work experience, such that an immediate return to the workforce that would allow a former spouse to attain a comparable lifestyle as while married is unlikely. Also, alimony is gender-neutral. Good news for payers of alimony or spousal support: you may avoid the bad memories that monthly payments may bring you each month by paying your support all in one lump sum. This section has an article that describes options for lump sum alimony payments and the potential tax consequences.
This section has links to great resources like spousal support forms and information for each state. In addition, there are articles about taxes and records to keep that are important considerations for both former spouses.
Understanding and Calculating Alimony in Louisiana
Why are taxes and records important for alimony? One major reason is that alimony is usually tax deductible for the payer, but is counted as income to the receiver. Learn about how the amount of alimony is determined, how long it must be paid, recent trends in spousal support, and more.
You may be able to avoid a monthly alimony payment by paying all of your spousal support in one lump sum.
How Does the Court Decide How Much Will Be Awarded?
This section contains information on the benefits of a lump sum payment, how to obtain one, and the tax consequences. Not every spouse is entitled to spousal support. This questionnaire will help you determine whether you may be entitled to alimony.
Alimony is generally tax deductible for the person paying it and counted as income for the person receiving it. When it comes to divorce, having us on your side can ensure not only a successful end to your marriage, but a fresh start in the next chapter of your life. The primary purpose of alimony is to ensure that the same standard of living during the marriage remains. The court may award two types of spouse support: interim periodic support temporary and final periodic support permanent.
Temporary alimony is given when the parties are separated, while the divorce is not yet finalized. However, it may continue even after the divorce is finalized based on the circumstances of the marriage.
Who Qualifies for Spousal Support? | LegalMatch
Permanent alimony continues indefinitely. However, stoppage in payments can occur due to death of the person paying, the death of the recipient, or the remarriage of the recipient. Whether we can settle the matter of spousal support inside or outside the courtroom, our New Orleans divorce attorneys will be on your side throughout the entire ordeal.