Sentences with phrase «alimony payments after»
In Massachusetts, the previous system permitted lifelong alimony payments after both short and long - term marriages.
https://www.indianainjuryandfamilylawyerblog.com/ Not exact matches
The bankruptcy: The «Prince of Soul» filed for bankruptcy in 1976 after failing to keep up with alimony payments.
Note that after 2018, that will no longer be the case as alimony payments will no longer be considered taxable income to the recipient as a result of the Tax Cuts and Jobs Act of 2017.
Your AGI is your income after adjustments for deductions like student loan interest, IRA contributions and alimony payments.
A payment to a spouse under a divorce or separation agreement that happens after 1984 is treated as alimony.
After you have completed all of the payments, you are discharged from all of your debts, except for debts relating to alimony and child support, federal student loans, and taxes.
The lawyer, Rudolph F. Pierce, sought to eliminate his annual alimony payment of $ 110,000 after he turned 65 and retired from his law firm, Goulston & Storrs (where he remains of counsel).
Spousal support is a varying foundation of alimony that allows our clients to continue their standard of living after a divorce, and our accomplished Los Angeles attorney can contribute to obtaining a successful amount and lengthy duration of its payments.
After the family court issued a final order awarding her $ 500.00 per month in permanent periodic alimony, Wife filed a motion pursuant to Rule 59 (e), SCRCP, requesting the family court reconsider its decision to not award her attorney's fees and credit her the payments she made on the second mortgage.
Under both federal and state income tax rules, alimony will be deductible by the payor spouse, and is taxable to the receiving spouse, provided that: (1) the payments are in cash and not in kind; (2) the payments are made incident to divorce or to a separation agreement; (3) the parties have not designated the payments as non-alimony; (4) the parties are not living in the same household; and (5) the payor has no liability for payment after the death of the payee spouse.
Alimony is typically a monthly payment that is made to provide for the maintenance and support of a spouse after a divorce.
Under the new Act, alimony payments will not be tax deductible for the payor spouse, and alimony will no longer be considered gross income for the recipient in divorces and legal separations that are executed on or after January 1, 2019.
Alimony, or maintenance, is a monthly payment one spouse gives to another to support them after the divorce.
Alimony is a monthly payment from one spouse to the other after the divorce is finalized.
Spousal maintenance (alimony) is a payment from one spouse to the other to help the recipient spouse meet «minimum reasonable needs» after divorce.
Alimony is a regular payment one spouse makes to the other spouse to provide financial support during and / or after a divorce.
Our Vancouver Spousal Support Lawyers are well aware that alimony or spousal support are payments one person pays to the other after separation.
During their 26 year marriage, the first wife, now 80, had never worked outside the home and, when in 2008 — 24 years after their divorce — the man, now 71, asked Quebec's Superior Court to reduce his alimony payments (which were, at the time, $ 2,911 per month), he said his financial situation had changed due to his recent retirement, and downturns in the global markets.
Alimony is a monthly payment made after a divorce is final to help former spouses meet their expenses.
Alimony, also known as spousal support, consists of payments that one spouse makes to the other person after their divorce is final to maintain the same standard of living after the divorce.
According to the new tax code, in divorces settled after this December 31 alimony payments will no longer be deductible nor reportable as income on annual tax returns.
The most common mistakes attorneys and clients make during a divorce include not considering the tax consequences of a settlement, allowing family and friends to interfere with decisions, allowing emotions to dictate decisions, forgetting you may need cash after the divorce, not securing divorce payments with insurance, trying to hide facts or assets, quitting a job to get more child support or alimony, failing to prepare for settlement negotiations or mediation, dating during a divorce, putting the children in the middle of the divorce, getting emotionally attached to an assets, and neglecting post-divorce financial planning.
(If your spouse is planning on getting remarried after your divorce, that will affect alimony payments, but only after the next marriage is finalized.)
Ask the court to require wage garnishment for the payment of alimony after you have obtained a judgment showing your ex-spouse owes arrears, i.e. past due payments, to you.
Husbands often want to know whether a Pennsylvania court can require ongoing alimony payments to their wives after divorce.
Education and Career — When a judge calculates alimony payments, he or she is typically looking to find a temporary amount that will help the lower - earning spouse get on their feet after the divorce.
You want to make sure that you can structure the alimony payment such that you will be able to qualify for the mortgage you need after the divorce is final.
In North Carolina, alimony is payment from one spouse to the other after divorce.
Under state law, after a divorce decree is issued, an automatic withholding order is sent to the employer so that alimony and child support payments are withheld from his wages.
Alimony is a monthly financial payment from one spouse to support the other after a marriage ends.
Change Is Coming: Tax Reform Act Punishes Divorcing Couples (03/02/18) The new act aims to prevent this «nefarious» practice, often labeled as a divorce subsidy, by rendering alimony payments as after tax income, beginning with the 2019 tax year.
Alimony payments under this decree aren't subject to the rules for payments under instruments executed after 1984.
If you and your ex-spouse continued to share a residence after the divorce, any alimony payments made during that time can not be deducted.
After only three collaborative law sessions, we were able to arrive at cash flow projections for each party that included child support and alimony payments.