Ordinarily alimony is deductible from the payor’s gross income, and includable in the recipient’s gross income, for income tax purposes. Thus there is some tax advantage to paying alimony. But, that advantage can be eliminated if you don’t pay heed to the IRS’ Alimony Recapture Rule (I.R.C. § 71(f)). If you are caught in the […]
Tag: Men’s Rights
How Is The Marital Estate Determined?
Everything that a spouse acquires from the day that the marriage occurred to the day that a Petition for Dissolution of Marriage is filed is marital by default. That includes assets and liabilities, however they are titled. We start with the assumption that all of those things are marital and thus part of the marital […]
Social Security Disability Income (SSDI) and It’s Impact On Child Support
Florida Statute 61.30(1) creates the presumptive amount of child support that an obligor should pay, dependent on the timesharing schedule, incomes of the parties, health insurance expenses, and other factors. In the event a parent is disabled and receives SSDI payments from the government, that income is specifically includable in their gross monthly income pursuant […]
Family Businesses In The Divorce
Many families derive all or a portion of their income from businesses that one or both spouses own, so often the business becomes an integral part of a divorce. The first question that must be tackled is whether or not to include the business as a party to the divorce. Sole proprietorships (unincorporated businesses) do […]
Alimony: Tax Considerations
If you are going through a divorce and alimony is an issue, you should be aware of certain basic tax considerations associated with an award of alimony. Generally, the treatment of alimony is to make the alimony taxable to the recipient and deductible by the payor. Alimony is to be included as part of the […]
Child Support – Direct Payment vs. The Depository
Many older (and some newer) final judgments provide for a child support obligation that is to be paid directly to the other parent via check, money order, or otherwise. However, most court-ordered child support obligations must be paid through the state depository in Tallahassee, which then disburses the funds to the payee. Upon disbursement, the […]
Is A 401(K) An Asset Or A Source Of Income?
Consider this scenario: ten years ago, when the parties were still employed and working, the court awarded to each of the parties one-half of the husband’s retirement account. The court also awarded permanent alimony to the wife. Now, ten years later, the former husband has retired and is taking distributions from his retirement account. In […]
Alimony and Supportive Relationships
Those of you who pay alimony should be aware that your alimony obligation could be reduced or terminated by the court if the court determines that since your divorce, a supportive relationship has existed between your former spouse and the person with whom your former spouse resides. In evaluating whether a supportive relationship exists between […]
Attorney’s Fee Provision In Marital Settlement Agreement
If you are involved in a divorce case and settle your case at mediation or at some point in the proceedings before trial, you should consider having a “prevailing party” attorney’s fee provision inserted into your marital settlement agreement. Such a provision provides that if either party has to file an action to enforce the […]
Attorney’s Fees And Cost In Family Law Proceedings
If you are a party to a divorce or post-divorce proceeding, or are contemplating filing such a case, you should consider the issue of attorney’s fees. Depending on the factual circumstances of your case, a trial court may have authority to order you to pay a portion or all of your spouse’s attorney’s fees and […]