The divorce process can contribute to substantial stress, especially about money and the future.
Yours is not a lone case obviously.
To help people better achieve a better piece of mind, we are providing this article about "Your Alimony Rights: The Florida Basics," to everyone in need of a better nights rest.
Consult with a Florida family law attorney to receive the legal advice you need for your individual situation.
The reasons for granting alimony Alimony is provided in Florida as per the law These may also be called "support payments.
" when required to prevent one of the spouses from being too poor following the divorce.
Even though they may be similar, property settlement is completely different from alimony (equitable distribution).
The husband and Wife Can Establish Alimony Payments Both spouses have the chance to come to an alimony agreement (plus other things that are related such as the settlement of property and issues of child custody, visitation, and support.
) The court will analyze the case if you can't or won't arrive at an agreement, and alimony will be ordered to be paid if the court deems it necessary.
Instead of going through your family law attorneys and court, you and your spouse will have more control over your alimony if you can come to an agreement on your own.
The guidance of a lawyer is important due to the heightened emotional states that arise during a divorce, in order to assure the alimony and other proceedings are approached fairly.
Types of Alimony Payments You can receive alimony payments through one lump sum of money or periodic monthly payments, or through various combinations of both methods.
Additionally, the judge can order alimony to be paid permanently.
On the other hand, one form of alimony that might be ordered is rehabilitative, which means that financial support continues until the spouse is educated, retrained or finds a job.
A court may order "bridge the gap" alimony payments for a short time to ease a spouse's transition to life after divorce.
Under certain conditions the court could require life insurance or bond to ensure that alimony will continue to be paid if death were to occur.
Court Considerations • When determining an appropriate alimony award, the court considers: • The marital standard of living • Length of the marriage • Age and health of each spouse • The education and work experience of each spouse as well as the time needed to obtain education and/or training to find appropriate employment • Financial resources, assets, and income of each spouse • Each spouse's contribution to the marriage, including homemaking, raising children, working to support the other through education, and assistance in career building of the other spouse • Although Florida divorces are considered' No Fault, Florida courts do consider adultery when determining alimony to the extent that an adulterous spouse has spent marital funds on the illicit relationship.
Alimony and Tax Deduction Tax deduction must be kept in mind while talks about alimony are made with your spouse.
In regards to taxes, the spouse who receives alimony must claim it as income, and the spouse who pays it would generally deduct it from their income.
The people involved may agree that the alimony won't be taxable and can't be deducted.