All You Need to Know about Alabama Alimony

All You Need to Know about Alabama Alimony

Alimony, or spousal support, is a post-divorce financial agreement between spouses in which one spouse has a financial need and the other has the ability to pay. The intention of alimony is not “revenge”, but rather to preserve the economic status of both parties after the marriage dissolves. Sometimes spouses come to an alimony agreement together through collaborative divorce or through mediation, and other times the trial court must determine a fair alimony agreement.

There are many factors to consider when creating the alimony agreement. The length of the marriage is a major one, and many courts do not consider alimony unless a couple has lived together long-term, especially with one spouse financially dependent on another. Other considerations include each party’s earning prospects, age and health of the partners, and other relevant factors, such as misconduct on the behalf of either partner.

If it is determined that alimony is necessary, different types of payments are considered. It’s possible for the needy partner to receive “Alimony in Gross,” or a single lump sum. It’s not taxed, unmodifiable, and not refundable. Think of it as a property division. Most people are familiar with “Periodic Alimony,” in which regular support payments arrive according to schedule. The amount can be modified as situations change, and they end upon remarriage or cohabitation of the receiving spouse. It’s taxed as income to the receiver and tax deductible by the payer.

If you are going through a divorce, be sure you are receiving the settlement you deserve. The Huntsville alimony attorneys at New Beginnings Family Law want to help you through this difficult and personal time. Contact the office today for a consultation.

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