What are the implications of divorce on alimony and child custody?
Jan Meriss Alfonso Assistant at Ascent Law LLC Implications of Divorce on Alimony and Child Custody After a divorce, former spouses will have to adjust their lives, and this includes making adjustments to support payments. For instance, if a former spouse is ordered to pay support, they may be required to earn more money. This can lead to serious financial difficulties. Alimony is tax neutral One of the benefits of alimony payments is that they are not taxable. This eliminates the tensions between the divorced couple. It also allows the divorcing couple to keep their separation costs low and keep alimony payments drama free. Before settling on the amount of alimony, both parties should put their emotions aside and get an accurate picture of their living expenses. It might also help to hire an impartial financial party to help them determine the amount. It is taxable for both parties If you are a spouse that has received alimony after a divorce, you might be wondering whether that...