If you've been told that alimony could be a factor in your divorce, it's normal to have questions about what the amount will be. While this is dependent on the factors specific to your divorce, there are some general rules to be aware of. However, keep in mind that there are no hard and fast formulas for determining alimony, and the courts have a great deal of discretion in what they consider.
When you are going through a divorce, you might consider how the divorce orders can affect you. If you are paying or receiving alimony, you might be shocked to learn that this can affect your income tax return. With that in mind, you should make sure that you have handled alimony payments in the correct manner before the upcoming deadline of April 18 for filing your income tax return.
Gone are the days where a divorced woman could reliably count on a court's awarding her alimony payments from her ex. Now, not only is the awarding of spousal support decided on a case-by-case basis, under some circumstances, a Tennessee woman might have to pay support to her ex-husband.
While it may seem like a strange concept to plan your divorce, it's a smart idea. It can be tempting to try to get the process over with as soon as possible so you can move on, but there are many different facets to a divorce. Overlooking or failing to address an issue now could have devastating effects in the future. When you talk with an attorney, he or she can help you understand the laws and your rights and how you can protect your best interests by being proactive during the divorce process.
While it may seem like divorces should be fairly simple, this is rarely the case. The end of a relationship is usually complicated, and the longer the couple has been married, the more potential issues there may be at play. One of these such issues is alimony. If you are trying to get alimony payments as part of your divorce settlement, it's important to understand what you can do to protect this source of income if something happens later on.
In our previous post, we discussed how alimony has changed in recent times. That post is a good reminder that when you are divorcing, you often have to fight for what you want and need. We can stand beside you as you go through every step of the divorce process.
Alimony was largely set up in the first place because one spouse would not have nearly the ability to provide his or her own support if the marriage broke up. Many people married with the intent that only one spouse would work, while the other would take care of the home or the children.