| Taxation of Alimony or Separate Maintenance Payments |
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| Alimony or separate maintenance payments that are made by an obligor spouse to an obligee spouse or to a third party on behalf of the obligee are deductible from the obligor's income provided the payments are made pursuant to a written agreement that was executed after 1984 and subject to certain conditions. More... |
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| Common Mistakes Made in Divorce Actions With Respect to Children and Finances |
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| Typically in a divorce action one or both parties have a lot of hostility and animosity toward one another. Individuals make a barrage of mistakes. Some mistakes may not only be harmful to the individual himself but may also be financially harmful. More... |
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| Long-Term Care and Long-Term Care Insurance |
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| Long-term care is defined as care that lasts for an indefinite period of time in duration. An elder may need long-term care when if they fall ill or are unable to care for themselves. Other individuals may also be in need of long-term care if they were involved in a serious accident or had a serious medical condition. Long-term care helps one live as they currently lived.
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| Tax Considerations Relating to Child Support |
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| For federal income tax purposes, payments of child support are not tax-deductible by the parent who makes the payments but child support is tax-free to the recipient. In order to qualify as child support, the amounts an ex-spouse receives must be designated as child support in the divorce or separation agreement. None of a payment that is lumped together as either family support or alimony is considered child support for tax purposes. In addition, family support or alimony is taxable to the recipient. More... |
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| Separation |
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| A separation constitutes the living apart of spouses. The spouses are not yet permitted to remarry because they are still legally married. The separation can be either legal or non-legal in nature. A legal separation generally refers to a separation that is ordered by a court. More... |
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