Alimony is the financial support that one spouse receives from the other after getting divorced. The main objective of providing alimony is to make sure that the spouse receiving it can continue to maintain a standard of living that he or she enjoyed before the divorce. Here are some things that anyone getting divorced should know about alimony.
Alimony is not guaranteed
The court looks into the matter and analyzes things before granting alimony. The income of the spouse claiming alimony, his or her financial stability, the spouse raising the kid etc are some of the things considered by the court. If the court finds that the spouse claiming alimony has enough to continue with the same standard of living, then it might dismiss the case.
It is not always the wife who gets the alimony
There is a misconception that it is always the wife who is at the receiving side of alimony. Yes it is most commonly received by a wife. But if it is the husband who needs financial support, then the alimony may be granted to him too. If the wife has been taking care of a husband financially, then after the divorce, it would become her responsibility to provide her husband with alimony.
Longevity of your marriage
Alimony amount is also determined by the number of years the spouses spent together as a married couple. The longer they have lived together, the more is the likelihood of receiving alimony for the spouse, who is in need of financial support.
It depends upon the income of the spouses
The alimony amount is decided based on the income of each spouse. If one spouse makes more money then the other, it is most likely that the court would grant alimony for the spouse in the lower income bracket.
Child support and alimony are different
Many people have a notion that alimony is a part of child support. This is not true. The court may ask a spouse to provide alimony in addition to finance for raising the child. Alimony and child support are different in the eyes of law and entail different procedures. While child support is exclusively for the child or children, alimony is for the spouse.
Alimony and tax
Income tax treats alimony differently for the giver and the receiver. It is treated by tax as taxable income for the spouse receiving it, but to the person paying alimony, it is a deductible item.
Alimony law is different in different states
Every region has a legislation of its own. The state laws and legal procedures change accordingly. The alimony you receive will be based upon the laws of your state. The methods used for the calculation of alimony differ from state to state.