Alimony

Alimony is also known as spousal support. It is a payment made on monthly basis by one spouse to the other according to a court order or as part of a divorce settlement. The objective of spousal support is to remove or reduce any unfair financial disadvantage one spouse may have to endure as a result of the divorce. For example, a wife who has stayed at home to raise the kids will suddenly need a source of income. This section has information about alimony; the types of alimony including lump sum and reimbursement alimony, eligibility for alimony, determining the amount of alimony, factors affect alimony and lots more. Click on the links to know more:

  • Alternatives to Monthly Alimony Payments : This section contains information on the benefits of a lump sum payment, how to obtain one, and the tax consequences.
  • Records to Keep : This section provides a guide to the types of documents alimony payers and recipients should hold onto.
  • Alimony and Taxes : In this section, you’ll find information on how to report alimony, how to deduct it, and much more.
  • Forms and Information by State : Find information on your state’s spousal support process and download the appropriate forms to claim alimony.

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