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Alimony
A Marital Settlement Agreement, as defined by Nolos Plain English Law Dictionary is “The document that sets out the terms of a divorce settlement between two spouses. The marital settlement agreement (MSA) is usually incorporated into the final judgment so that it has the force of a court order.” Areas covered in a MSA include division of...
In almost all instances, when a couple is going through a disillusion of marriage (divorce) probably the most contested and important item is the financial outcomes which will largely determine the future of each spouse. While it is true parental timesharing (custody), when there are minor children involved, probably ranks the highest concern...
Most frequently a forensic accountant’s role in a divorce (now termed dissolution of marriage) is in the courtroom as an expert witness. As an expert witness the forensic account is allowed to testify in his/her area of expertise even though never having, been witness to any occurrence relating to the lawsuit. The areas of expertise of a fo...
Alimony income can be used to boost mortgage approval chances since it is considered as income for banks. First let’s take a look at what alimony income would look like. In most states there are five types of post divorce alimony, that is money received following a divorce which one party receives from the other, usually in monthly payme...
Yes, paying alimony can be tax deductible. However, there are guidelines to be followed both by the person receiving and the person paying alimony. Here is what you need to know. Alimony, which can also be referred to as spousal maintenance or spousal support, occurs when, following a divorce or separation, one spouse is adjudicated to pay...
Alimony is financial support provided by one spouse to the other as legal obligation during the process of divorce or for a certain period of time following a final divorce. Courts in general require the spouse who earns more to help support the spouse who earns minimally. There are different types of alimony and each serves a distinct purpos...
