Posts Tagged ‘Florida Alimony’

Alimony

Thursday, November 5th, 2009

Everyone wants to know about alimony. Are they entitled to it? Are they going to have to pay it? There are several different kinds of alimony, but they all have some things in common. In almost every instance, in order to qualify for an alimony award, the court must find that one party has a need for it and the other party has the ability to pay it.

Permanent, periodic alimony is the first thing people think of when they think of alimony. Those monthly payments that end only when the receiving spouse remarries, cohabitates or dies. Permanent alimony is awarded in cases of a long-term marriage. Exactly what qualifies as long term depends. If you’ve been married for less than 12 years, yours is not a permanent alimony case. If you’ve been married for 12-14 years, you’re in a gray area where a Judge may or may not award permanent alimony. If you’ve been married for 15 years or more, chances are likely that the Judge would award permanent alimony if there is a need and ability to pay. Permanent alimony is generally non-taxable to the paying spouse (deducted from your gross income before taxes) and it is taxable to the receiving spouse (added to your gross income before taxes).