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Alimony is the money one spouse pays the other in a divorce. It’s essentially a form of spousal support. These are the three main types of alimony in the context of divorce agreements:
Although alimony is not deductible or reportable as income for divorces occurring on or after Jan. 1, 2019, the previous rules apply to you if you were divorced by Dec. 31, 2018.
Some states (e.g. Florida, Texas, Maine) are moving away from permanent alimony awards that are intended to maintain a spouse's standard of living enjoyed during the marriage and are moving towards durational or rehabilitative alimony. [50] [51] In other states, like Mississippi and Tennessee, alimony is usually awarded for life. [11] [52] [53]
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The Texas Family Code does not provide for "palimony.” This means you cannot gain rights under the Texas Family Code because you lived with someone absent a valid marriage. You can, however, create an agreement "on consideration of nonmarital conjugal cohabitation" under the Texas Business and Commerce Code (Tex. Bus. & Com. Code § 26.01(b)(3)).
[12] During this six-month "cooling-off" period, the spouses are encouraged to find forgiveness. Under the Civil Code, there were only two grounds for legal separation: [13] For adultery on the part of the wife and for concubinage on the part of the husband as defined in the Penal Code; or; An attempt by one spouse against the life of the other.
The Tax Cuts and Jobs Act made a big impact on filings for tax year 2018. From nearly double the standard deductions to new tax brackets, last year's tax filers had to adjust to changes to their...
In 1991 Louisiana abolished the forced heirship provision for spouses; however, at death the spouse's interest in any community property is converted to his or her separate property; and a usufruct is granted over the remaining community (with the forced heirs as naked owners of their respective shares). That usufruct terminates at death or ...