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Alimony, also called aliment (Scotland), maintenance (England, Ireland, Northern Ireland, Wales, Canada, New Zealand), spousal support (U.S., Canada) and spouse maintenance (Australia), [1] is a legal obligation on a person to provide financial support to their spouse before or after marital separation or divorce.
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 ...
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 ...
The disposition of property, other marital assets, custody, alimony and support and the like are agreed to by the marital partners upon separation and the agreement later, usually, incorporated into the final divorce decree. Agreements that seek to affect the spouses' rights in a future divorce.
But alimony or separate maintenance payments made under divorce or separation agreements nowadays are not deductible by the payer, nor are they considered taxable income for the recipient.
A wealthy male client filed for divorce. Theres a prenup. Its pretty iron clad. It discuses the distribution of wealth, the alimony (if any) is laid out at x amount, increasing yearly based on ...
In the United States, marriage and divorce fall under the jurisdiction of state governments, not the federal government. Although such matters are usually ancillary or consequential to the dissolution of the marriage, divorce may also involve issues of spousal support, child custody, child support, distribution of property and division of debt.
The parties need to reach also agreement on post-divorce child care, division of common property, housing and possibly alimony. The contentious divorce takes place when the parties cannot reach an agreement. If there are underage children, the court may divorce the marriage only after first deciding on future care for the children. [126]
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