A Few Other Considerations for Alimony

For most divorcing spouses in states which recognize alimony awards, alimony is a hot emotional issue. In a typical scenario, the husband pays the wife alimony. The longer the marriage, the more likely alimony will be awarded. For the husband, it is difficult to stomach paying alimony when you feel that you earned most of the money anyway. While you may feel that she never did much to help you at the office or with the children, she feels that she was your “right arm”. As the wife, you may feel that you deserve all that he is worth and could be worth someday, since you supported the family during his education, early career, or even while he amassed his profits. You feel he couldn’t have reached his current status without you, while he insists that you undermined him at every turn and did precious little to further his achievements.

 

Anyone who is required to pay alimony after his or her spouse decided unilaterally that he/she wanted a divorce tends to feel doubly hurt by the system. It is painful to pay someone a substantial part of your income while you are in the throes of divorce and related conflicts, and you’d prefer to spend your money on your children, new partner, or yourself. Almost all partners feel that they are the generous spouse, and their partner is being unreasonable during the divorce process. Therefore, the subject of alimony adds salt in wounds that are already searing. It helps to remember during this time that alimony is a potentially versatile and cost-effective way to help settle your case. Often clients say, “I don’t want to pay a dime of alimony!” only to realize later that the “dime of alimony” is actually the cheapest, most sensible alternative. It is one method of equalizing assets over time; it is not the only way, and if it can be thought about calmly and with creativity it can be a useful tool for a successful divorce. For more divorce financial information, see http://www.peace-talks.com/finformation.php.

 

For example, many people do not realize is that, for tax purposes, alimony is deductible for the person who pays the alimony, and included in income for the person who receives alimony. You must consider the tax ramifications of an alimony order before deciding whether it makes sense for you. An alimony order can save a couple a great deal of money. In other cases, what you hope to gain, given the tax ramifications, is not worth the fight to get it. For some terrific information on divorce financial planning, see  

http://www.divorcesource.com/info/financialplanning/financialplanning.shtml.

 

 

Excerpted from Your Divorce Advisor: A Lawyer and a Psychologist Guide You Through the Legal and Emotional Landscape of Divorce (Simon & Schuster/Fireside 2001). For more information: http://www.yourdivorceadvisor.com/.

 

For more information contact Peace Talks www.peace-talks.com 

(C) 2008  Peace Talks Mediation Services, Inc.

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