Alimony: Important Things To Know
Divorce agreements can include many different types of provisions. Alimony is often included as part of these agreements. Custody of children, custody of pets, division of finances and property, and other issues can be addressed in the terms of a divorce.
Alimony is paid by the person who earns more money to help out another person who earns less. For example, if you earn $100K per year while your ex-spouse earns $50K per year, then you may be required to pay him/her $50K per year for a period of years. You may also be required to pay child support.
In most cases, the husband should get alimony if he earns more than the wife. However, this is not always true. The judge bases his decision on what the couple could earn in the future. He may decide that the wife could make more money in the future than the husband. Therefore, she gets alimony while the husband doesn't.
Alimony is awarded based upon the income of the spouses and the needs of the receiving spouse. In this example, the husband earns more than the wife, but the wife still needs alimony because she does not earn enough to support herself.
Alimony can be a temporary agreement or a long-term agreement. It can be paid in a single lump sum or in installments. The length of an alimony agreement depends upon the circumstances of the case. An alimony agreement may also be terminated by death, remarriage, cohabitation, or any other change in circumstance.
In most states, alimony is paid by the person who earns less than the other person. This is called the lower earner. If the two people split up, the lower earner gets alimony until he or she reaches retirement age. After this time, the higher earner pays alimony. The length of alimony varies depending on the length of the marriage and the income of each partner. Alimony is a payment made by one spouse to another who is legally obligated to provide financial assistance to the former spouse. In most states, alimony is considered income to the recipient. Child support is also paid as part of an award of spousal or child support. Non-cash property settlement refers to any agreement or court order that settles the division of assets between spouses or parents and children. Voluntary payments are those made voluntarily without legal obligation. Money that the payer depends upon for the upkeep of their properties includes rent, mortgage payments, taxes, insurance, and utilities.
Temporary alimony is paid during the pendency of the divorce and then ends up on the finalization of the divorce. This is what most people think of as alimony. However, rehabilitative alimony is paid while the lower-earning spouse is attempting to improve their employment prospects. After a fixed period of time, or if the recipient becomes self-supporting, the alimony ceases. Reimbursement Alimony; paid to compensate a lower-income spouse for expenses such as work training and tuition. Lump-Sum Alimony; paid in lieu of property settlements. This is ordered when one spouse does not want any property or items from their marital assets. Termination of Alimony; other situations that might serve a sufficient reason to stop payments include retirement, children no longer needing the care of a parent, and a judge's determination a recipient is not making good faith efforts to become self-sufficient."
Alimony is paid to a person who was married to another person. It is used to provide financial assistance to someone who needs help because of divorce or separation. This money comes from the other person's income. Alimony does not go directly to the recipient. Alimony is not considered part of the payer's property. Alimony must be given by court order.
Alimony is paid out over a period of time. Payments may start when one person moves out of state or changes jobs. Payments may end if someone gets remarried, lives with someone else, dies, or reaches a certain age.
The amount of alimony depends on many factors such as the length of time the couple was married, the income level of each partner, and whether there were children involved. Alimony is usually paid in monthly installments. Some people prefer a few large lump sums. Payments may go through the state or directly to the other party. If the paying spouse fails to make payments, the other spouse can sue him or her to collect what is due.
Courts should be guided by the following factors when awarding spousal support: 1) Age, 2) Physical Condition, 3) Emotional State, 4) Financial Condition, and 5) Length of Time Needed For Education or Training To Become Self-Sufficient. The standard of living during the first year of marriage is high. The length of the first year of marriage was long. The payer spouse supported the recipient by working full time.
Alimony is money given to a divorced wife to help pay her living expenses while she is trying to get back on her feet. The amount of alimony depends on many factors including the length of time the marriage lasted, whether there were children involved, how long the husband was employed during the marriage, and if the husband had any assets before the divorce.
Alimony lasts until either the dependent spouse's remarriage or death occurs. The court considers many factors when determining whether to grant alimony. Cheating affects alimony. Illicit sexual behavior means any immoral conduct such as adultery, homosexuality, incest, prostitution, sodomy, fornication, bestiality, masturbation, fellatio, cunnilingus, and anal intercourse. A dependent spouse who cheats on the supporting spouse before the separation loses the right to receive alimony. A supportive partner who cheats on the dependent spouse prior to the divorce will be obliged to pay alimony. If both parties cheat on each other during the whole marriage, the judge has discretionary power to decide whether to order an alimony payment. An exception applies if there is forgiveness by the other party. Alimony is considered income by the IRS. In addition, judges may consider other types of marital misconduct, such as cruelty, financial misconduct, alcoholism, drug addiction, imprisonment, and abandonment.
Meet with an attorney in Harris County, Galveston County, Fort Bend County, Montgomery County, Brazoria County, Houston, Sugar Land, Missouri City, and Stafford, Texas at Thornton Esquire Law Group, PLLC, if you need legal advice or representation. Contact us today at www.thorntonesquirelawgroup.com for a free consultation.