Requirements For Alimony
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Requirements For Alimony

There are certain requirements for Alimony, or spousal support, which is something given to one ex-spouse by the other ex-spouse in the form of monetary support.

It's meant to provide the spouse that doesn't make as much money with the money for living expenses over and above what is also provided by the higher income spouse in the amount of child support, if child support is provided.

However, this is not child support and is very different. How is it determined?

A judge will determine how much if any money is going to be provided by one spouse to the other.

Several factors go into play as the judge makes his or her determination.

State regulations vary, but essentially, they take into account how much the spouse receiving the money is able to earn, both now and in future, the receiving spouse's health and age, how long the marriage was, what property is involved, and how the parties have conducted themselves.

A judge may not award alimony at all, and in fact will usually only award it when one spouse has been dependent economically on the other spouse for most of the marriage, usually a longer marriage.

Financial Advantages To Paying Alimony

Alimony rules are such that the person who pays it has some advantages. It's tax-deductible for you, and it's included as taxable income for the person getting it.

If you pay child support, by contrast, it's neither tax-deductible for you nor taxable to the person who gets it.

Therefore, if you have significantly higher income than the spouse you're going to be paying alimony to, you may get some tax advantages by paying it.

What Are The Requirements For Alimony?

Payments must be in cash, and are acceptable in a check or money order, but can't be given in the form of debt, services or property.

Any payments must be set forth in a written agreement or within divorce papers. It must be formal, such that you cannot call what you've been paying informally in terms of support to your ex-spouse anything else.

If you file a joint tax return with your ex-spouse, you can't claim alimony as a tax deduction for that year.

You and your ex-spouse can't live together and call any support you pay alimony. And even live in separate quarters within the same residence, by the way. You must have separate quarters under different routes.

The person claiming the alimony as a deduction must stop the payments and stop claiming the tax deduction if the spouse receiving the it dies.

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When the marriage ends, many women look to cash in that insurance policy in the form of alimony. There are always things men can do to reduce or even eliminate alimony.

You can win alimony battles if you use a proven strategy and know how the game is played; often without going to court. With a good strategy, it's possible to negotiate your alimony down to zero!

If you'd like to discover the requirements for Alimony and how to reduce or even eliminate it. . . Click Here Now

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You can also simply opt out of alimony treatment, since the tax advantages to claiming payments are significant; by the same token, it's to your disadvantage to lie and say they're not. Therefore, if you say they're not, it's simply assumed they aren't.

There are tests you will have to undergo should you choose to pay it to determine what payments are alimony versus those that are property settlements or child support.

However, again, if the requirements for alimony make you the spouse paying it, it may be to your tax advantage, so do check into it.

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