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alimony Archives

How can alimony affect taxes?

If you are going through a divorce and you earn significantly more than your spouse, it is very likely that you will be ordered to pay alimony. This may feel frustrating and unfair, especially if you believe that you'll have to suffer financially as a result.

What are the types of alimony available in Tennessee?

If you're going through a divorce in Tennessee, you may eventually have to address the issue of alimony, otherwise known as spousal support. The question of whether you will be ordered to pay alimony to your divorcing spouse will largely depend on your relative income, but the property division settlement will also play a factor. If you have a significantly higher income than your divorcing spouse, it is possible that you will be ordered to pay alimony for some time.

What happens if I don't pay alimony?

Alimony is a type of court-ordered support payment that is awarded to one spouse at the finalization of a divorce. Otherwise known as spousal support, it has similarities with child support but tends to be less strongly enforced.

An overview of alimony in Tennessee

The laws in place that govern different aspects of divorce vary between states. This is why it is important that you first decide which state you will be divorcing in (which will usually be the state in which you currently reside) before taking the time to learn more about the divorce process.

Rehabilitative spousal support payment considerations

You might think that you will automatically receive alimony when you divorce, especially if you were a stay-at-home parent. This isn't necessarily the case. There are several factors that come into the picture to determine what type of spousal support you might be eligible for.

Stay-at-home parents might need alimony after divorce

Stay-at-home parents have a lot of duties to handle around the house. Not only are they usually the ones who cook and clean, but they also have to try to raise well-adjusted children. This puts a lot of pressure on them. While their marriage is going well, this can be a dream way of life for them. If the marriage begins to crumble, however, the stay-at-home parent might be at a serious financial disadvantage.

Spousal support payments have special consideration

Divorces that will include alimony are often complex, but knowing a few points about these spousal support payments might help individuals who are considering asking for them make a decision about what to do. Because the tax laws related to alimony changed at the beginning of 2019, there are some individuals who might have to rethink what they are going to do.

Alimony payments can be lump-sum or recurring

When you are going through a divorce, the subject of alimony might come up. Normally, this is reserved for long-term marriages and those with some specific circumstances. The goal of alimony is usually to help support a spouse until they are able to get on their feet. In some cases, this is because the person was a stay-at-home spouse and doesn't have the workforce experience that would allow them to support themselves right away.

Consider these factors about spousal support as you plan

Some divorces include spousal support (alimony) as part of the final agreement. If you are seeking spousal support from your ex -- or think that you might -- there are a number of specifics that you need to consider in order to plan your future. Our attorneys know that you might have a number of unanswered questions about alimony, and we can help guide you through them.

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