Alimony payments aren't as common these days as they once were. Many divorces don't include any provisions for this, but if there is a reason to think that yours will, now is the time to explore the options that you have for it. One thing that you might need to consider is how often you will pay.
Posts tagged "Alimony"
Divorce can mean a fresh beginning for your personal and social life. However, it can mean unpredictable financial entanglements with your former spouse, particularly if you share children or will need alimony, also known as spousal support or maintenance, after the divorce. While it may feel uncomfortable to depend on your ex after a divorce, it may also be necessary.
Trying to determine whether alimony payments are appropriate for a divorce can be complicated. Support payment aren't guaranteed when a marriage ends. Instead, it is considered on a case-by-case basis. This can be determined in one of two ways. Either the parties come to an agreement, or the court will make a decision.
One component of some divorces is alimony. While many divorces don't have this, the ones that do require careful thought. For the person who is going to be responsible for paying, making sure they can actually afford the payments is imperative. It is a good idea to sit down and come up with a budget that includes the proposed amounts. This lets you review how making the payments (or receiving them) will impact your finances.
When you go through a divorce, especially when you don't have children together, the last thing that you probably want is to be tied to your ex afterwards. For some people, the terms of the divorce mean that they won't be able to bid adieu to their ex for a long time. This is because they might have to make alimony payments.
Alimony is a part of a divorce that is often misunderstood. Some people think that this is automatic in all divorces, but this is far from the truth. Instead, alimony is reserved for some very specific circumstances. If you are facing a divorce and think that you might need to seek alimony, you need to learn about what Maryland laws say about this matter.
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.
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.