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States follow one of three basic models, or formulas, for calculating a child support obligation: (1) the Incomes Shares model, (2) the Percentage of Income model, or (3) the Melson Formula model. [5] The Income Shares Model asserts that minor offspring should receive the same amount of parental support as if the parents lived together. This ...
Alimony and spousal support are paid to a former spouse for their financial needs. Child support is another type of domestic support that may be negotiated during a divorce proceeding.
Alimony pendente lite was given until the divorce decree, based on the husband's duty to support the wife during a marriage that still continued. Post-divorce or permanent alimony was also based on the notion that the marriage continued, as ecclesiastical courts could only award a divorce a mensa et thoro, similar to a legal separation today ...
Child support (or child maintenance) is an ongoing, periodic payment made by a parent for the financial benefit of a child (state or parent, caregiver, guardian) following the end of a marriage or other similar relationship.
Alimony is a court-ordered sum that one former spouse must pay to another due to a separation or divorce agreement. You might sometimes hear about spousal maintenance or spousal support, which are ...
Expenses such as alimony payments, retirement plan contributions, health savings account contributions, student loan interest, and teacher classroom expenses are always deductible.
A divorce settlement entails which spouse gets what property and what responsibilities once the marriage is over. "It deals with child custody and visitation, child support, alimony, health and life insurance, real estate, cars, household items, bank accounts, debts, investments, retirement plans and pensions, college tuition for children, and other items of value, such as frequent flyer miles ...
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