Alimony
What Is Alimony?
The most popular form of alimony is some allocation of weekly or monthly alimony on a consistent basis. Alimony is not a taxable event for either the recipient or the payor.
How Is Alimony Calculated? How Long Do You Have to Pay Alimony?
It is a totally separate matter when there is potential cohabitation of the recipient spouse. Health issues, retirement, earned income from either party, and other financial issues can alter the fairness of alimony payments down the road. Many times, if there is a request to modify the original court orders for alimony, it deals with a request to modify the amount of alimony.
Alimony is part of the overall financial plan when considered vis a vis assets, debts and child support during a divorce. An experienced lawyer can help you pay or receive a fair alimony amount. My name is Jim Katz and I have been practicing family law for many years. I invite you to call our law firm today at (860) 875-7000 for a free consultation.