After a divorce, your living expenses are going to change. You suddenly have to cover all of the costs on your own. To some, this comes as a bit of a shock; if your partner handled the finances, this may be something you have not thought about in years.
Alimony is money paid by one former spouse to his or her ex after divorce. The entire goal is simply to support that person, and they can use it for everything from rent to grocery bills. Payments last for different amounts of time and see far different totals from case to case.
Your spouse has to pay you alimony after the divorce. You assumed that meant monthly payments. It can, but your spouse is asking to pay you a lump sum instead and be done with it.
Everyone who stands a chance to receive alimony is eager to get it, and everyone who stands to pay alimony is not eager to fulfill this financial responsibility. The thing is, these helpful payments are an important part of keeping marriages fair in our society. After all, what would happen if someone was trapped in a toxic marriage and was afraid to leave because he or she had no other way of obtaining financial support?
A long-time taxation standard has allowed those paying alimony to deduct the expenditure from their total taxable incomes. Meanwhile, the recipients of alimony were the ones who needed to make the tax payments on that money.
Some individuals want to pay their ex-spouses temporary alimony, especially when their marital break-up was amicable and they still care deeply for their exes. However, in most Connecticut divorce cases, the so-called "moneyed" spouse does not want to continue supporting their ex-spouse financially.
Alimony can be an important part of a divorce settlement. For instance, if you have been a stay-at-home mother for many years, you may not have had the chance to build up your career. The career you had in the past may have advanced to a point where your old skills do not meet the needs of employers.
One thing many people asked in today's world is if alimony has a place in modern divorces. Unlike divorces in the past, alimony is not needed to support a woman or spouse who does not work. In the past, it was expected that mothers would stay home with their children while men went to work. Today, that's not always the case.
As a young person looking to get married, one thing you may want to know more about is prenuptial agreements and how one could help you avoid alimony in the case of divorce in the future. A prenuptial agreement isn't always easy to approach with your betrothed, but it's a good idea to discuss it before you get married.
Alimony is something that you may be able to seek during your divorce if you've been supporting your spouse through unpaid labor or if you are the lesser-earning spouse. There are a few different kinds of alimony, but the aim is the same. Alimony can help boost your income.