You've been ordered to pay alimony. You may not be thrilled about it, even if you understand the reasoning behind the payments, but there is one upside: Those alimony payments are typically tax deductible -- at least for another year. For your ex, taxes will need to be paid as if the alimony payments were traditional income, but you can write them off and save a bit on your taxes.
Posts tagged "Alimony"
You want to get divorced, but you don't want to pay alimony. You see no reason you should have to support your ex after the two of you aren't even a couple anymore.
You and your spouse are discussing all available options as you work through your divorce. You know that alimony is going to be paid, but you're debating exactly how you want to receive it. Should you take a lump sum payment or monthly payments?
You and your ex go to court and you're awarded indefinite alimony. After all, you're no longer young enough to get back into the workforce, and you gave up your career years ago to help your spouse achieve his or her dreams. You were counting on being supported in return, and you don't want the divorce to take that away when you have no other source of income.
Your spouse has enough money to pay you all of the alimony that is ordered at the time of the divorce. Do you want that lump sum, or are you better off taking the monthly payments?
Alimony can be a very contested topic when a couple gets divorced. One spouse might disagree with how much the other is requesting and vice versa. There are a handful of factors that go into determining the amount of alimony in a divorce in the state of Maryland.
Divorces that occur later in life, after the age of 50, are usually referred to as gray divorces. These divorces can be a little more complicated compared to the ones that happen earlier in life, before wills, trusts, and inheritances come into play for most. Here are some common divorce issues that arise when splitting up later in life.
Alimony is a common and necessary component of many Maryland divorces. Although most spouses who have to pay alimony try to avoid an alimony award at all costs, there is a good reason why alimony exists. Mainly, it prevents less-moneyed spouses from being trapped in a toxic -- or even abusive -- marital relationship for financial reasons.
Alimony is support paid by one spouse to the other when the couple divorces. It can be used to pay the bills, pay for insurance, pay loans, buy groceries, pay for other necessities and much more. There are times when the alimony payment amount can be changed, but there aren't many reasons for this to happen.
You've been married for several years, but in the end, you can't see yourself continuing in this relationship. You decide the best step is to go through a divorce. During your marriage, you and your spouse both worked, but he always earned more and supported the home and extras. Now, you want to go through a divorce, but you don't think you make enough to support yourself. What can you do? Are you entitled to alimony in this situation?