Sentences with phrase «paying spouse»

We've discussed other retirement income planning techniques like paying your spouse's bills, setting up a spousal RRSP and swapping assets for cash or shares.

The idea behind alimony is to sustain the lesser paying spouse at a certain financial level that is supposed to be comparable to what existed during the marriage.

Plus, a judge will probably order you to return the money, and maybe pay your spouse's attorney's fees too.

If the vehicle is determined to be marital property, you may have to pay your spouse something for their share of the car.

Arkansas uses the percentage of paying spouse's income model instead.

Under current law, if a wife falls on hard times, the former husband paying spouse maintenance remains a form of insurance policy, assuming he has money to spare.»

Dozens of MPs paid spouses or children to work for them and one minister predicted THAT some would be found to have effectively «invented» staff to put on the payroll.

Can anyone comment on whether this is a reasonable interpretation of the meaning of «alimony,» and / or explain how the IRS might view it if the alimony - paying spouse submitted a tax return as «Married Filing Singly» reporting the alimony paid as a deduction from taxable income?

Alimony is taxable income to the spouse who receives it, and tax deductible for the spouse who pays it

Our experienced Vancouver imputed income lawyers know paying spouses can not work beneath their earning capacity to pay less support nor can recipient spouses refrain from retraining or working to get more support.

The MacLean Law Calgary spousal support lawyers also know these tough economic times mean paying spouse's have had their earnings vaporize or at a minimum diminished dramatically.

Before you decide to keep the family home, make certain you understand the costs involved, including paying your spouse half the equity in the home, and monthly costs such as mortgage, taxes, utilities, maintenance and a gardener.

Legal Separation: A Legal Separation Petition seeks a judicial ruling that one spouse should pay another spouse child support or spousal maintenance, and distribution of property, without seeking to dissolve the marriage.

So, if you lose your job after your divorce is over, you must still pay your spouse the agreed - upon alimony.

For example, you might agree to pay your spouse alimony, but might also want to address what happens if she remarries.

As well, you can further protect yourself against paying your spouse's fees by making an â $ œoffer to settle.â $ This sets out in formal legal terms how you are willing to settle your case or the step in your case.

«There's an incentive to move income from the higher tax - paying spouse to the lower tax - paying spouse.»

Income splitting allows people to transfer income to lower - paid spouses to reduce income tax payments.

You were married when you obtained the loan and live in a community property state, in which case your spouse would have to pay it

Paying your spouse or child to perform work for your business.

This becomes an issue if the paying spouse wants to remarry because he (or she) can't have two spouses on their plan.

You were married when you obtained the loan and live in a community property state, in which case your spouse would have to pay it

Will your plan will continue to pay your spouse an income after you die?

You may already have a policy that pays your spouse a decent amount in the event of your death.

Washington and California laws say that a joint bank account can be tapped to pay your spouse's child support obligation, but if you can show which part of the money is yours, that cash is off - limits.

If there's a written agreement such as a court decree and the paying spouse has a high credit rating, that helps.

The balance left unpaid is still owed by the paying spouse.

It's pretty common for a deal to include an increase if the paying spouse's income goes up, but if that's you, do you really want to have to reveal your income to your ex every year?

Business owners can reduce their taxable income if they pay their spouse and children a salary.

For divorce or separation agreements executed after December 31, 2018 (or modified after that date to apply this provision), alimony and separate maintenance payments are not deductible by the paying spouse, and are not included in the income of the recipient.

This forced equality would likely put the kabash on any plans for the lower - paid spouse to claim / qualify for any tax credits.

This can ensure that the amount of spousal support agreed upon is enough to help the receiving spouse support him or herself, without overburdening the paying spouse.

Another reason a court may stop spousal maintenance payments in Arizona is if either the paying spouse's income has decreased significantly or the receiving spouse's income has increased substantially.

(Note that legal fees incurred by the paying spouse or partner are not deductible).

However, most judges will not require the paying spouse to work beyond a reasonable retirement age, so even indefinite awards may be terminated at a reasonable retirement age, depending on the circumstances.

If you make it to the States, you'll probably be forced to return by an American court — and then, to completely add insult to injury, you'll probably have to pay your spouses's legal fees and travel expenses as well as your own.

A paying spouse can also borrow money from family and friends or take out a line of credit to make an equalization payment.

A paying spouse's child support is readily increased when the paying spouse's income goes up.

So, for example, if the spouses agree (or a court decides) that the supported spouse should receive $ 1000 a month in rehabilitative alimony for 24 months, the paying spouse owes $ 24,000; this can be paid monthly, or in a single lump - sum (paid all at once or in one or more installments).

If the paying spouse operates his or her own business, and the business earnings have significantly diminished, the amount of spousal support obligations may be reduced.

Specifically, a spouse who frustrates the divorce process can be required to pay another spouse's attorney's fees and court costs.

In the event of death, is the estate of your ex-spouse still obligated to pay you spouse support?

A formula is used to determine temporary spousal support in the state of California, after the needs of the requesting spouse and the ability of the paying spouse to pay are assessed.

• Whether there will be a resulting inequity because the paying spouse will possibly be discharged from bankruptcy (and thus released from his or her equalization obligation, which was a topic I have written about previously [RA add link to prior article on bankruptcy]-RRB-

Declaring bankruptcy is not likely to result in the paying spouse having his or her spousal support obligations discharged.

If spousal support is being paid to a spouse who appears to have no interest in ever becoming self - supporting, the paying spouse has the right to ask the court to order a vocational assessment.

If the paying spouse has experienced a serious reduction in income, due to involuntary termination or a health issue, the amount of spousal support could be either reduced or terminated.

As part of the overarching concern over whether the paying spouse can make a lump - sum payment without undermining his or her self - sufficiency, the court must consider (among other things):

If a paying spouse is forced into early retirement due to a health issue or other issue beyond his or her control, this could also result in an end to spousal support payments.