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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 ...
Divorce courts retain the discretion to refuse to enforce prenuptial agreement terms restricting a party’s right to seek alimony if that party would have to seek public assistance as a result of the alimony waiver, or if the restriction on the right to seek alimony is unconscionable or unfair when the divorce occurs.
One issue that couples often contend with during the divorce process centers on financial support. Both parties can work together to reach an agreement on alimony or spousal support or in cases of ...
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 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 ...
The term alimony comes from the Latin word alimonia ' nourishment, sustenance ', from alere ' to nourish '.Also derived from this word are the terms alimentary (of, or relating to food, nutrition, or digestion), and aliment (a Scots Law rule regarding sustenance to assure the wife's lodging, food, clothing, and other necessities after divorce).
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