Divorce Alimony Laws
The divorce alimony laws vary from one state to another. Alimony is the hefty sum paid by one spouse to another. It is actually a financial compensation given to the spouse who is financially unstable. According to divorce alimony laws, the sum of money paid as alimony will be included as taxable income of the person who is awarded with it while the money is tax deductible for the spouse who pays it. There are various types of alimony that can be granted by the judge of the family court.
The divorce alimony laws are applicable depending upon some factors like age of the divorcees, their financial status, emotional attachment to one another, the reason for divorce and such. The sum of money determined as alimony also depends upon the payment of child support and awarding of the child custody and visitation rights.
- Permanent Alimony – According to alimony laws the permanent alimony is to be paid until the death of the recipient. The payment of the alimony is discontinued in case the recipient gets married again. Some states have seven provisions called "cohabitation" which states that the recipient loses the claim for alimony if he or she starts staying along with another partner, even if they are not married.
- Lump Sum Alimony - Alimony can be paid in a lump sum amount at single point of time. Instead of the payment of money periodically that is every after a week or a month, a huge sum of money can be paid as a whole. This type of alimony is also included as a taxable income. So, as a recipient you are recommended to consult an individual experienced in CPA before agreeing for a lump sum divorce.
- Temporary Alimony – Temporary alimony is awarded under certain circumstances. The alimony is to be provided for few years and not indefinitely. Normally, when both the spouses are almost equally stable with respect to financial terms but one of them still require the amount in order to gain a safe stand financially or to get on the feet, temporary alimony is granted.
- Rehabilitative Alimony – This type of alimony is mainly awarded to the spouse who is quite younger in age. Generally, if the divorced spouse is still studying and has the potential of getting self supportive in future, rehabilitative alimony is awarded in such circumstances. The alimony is mainly paid in order to financially support the education expenditure of the recipient spouse.
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