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If the divorce is uncontested, the spouses need first come to an agreement for all relevant issues including splitting up of assets, including pension assets, alimony, child support and child ...
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 ...
Temporary alimony: Support ordered when the parties are separated prior to divorce. Also called alimony pendente lite, which is Latin, meaning, "pending the suit". Rehabilitative alimony: Support given to a lesser-earning spouse for a period of time necessary to acquire paid work and become self-sufficient.
A qualified domestic relations order (or QDRO, pronounced "cue-dro" or "qua-dro"), is a judicial order in the United States, entered as part of a property division in a divorce or legal separation that splits a retirement plan or pension plan by recognizing joint marital ownership interests in the plan, specifically the former spouse's interest in that spouse's share of the asset.
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 ...
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.
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