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alimony Archives

Lump sum alimony may be a solution in your Kentucky divorce

What does the word alimony make you think of? If you are like most people, you probably think about one spouse making regular monthly payments to his or her ex. What many people fail to understand is that alimony, or spousal support, is much more flexible than it was in bygone days.

Facing the sensitive subject of alimony in your Kentucky divorce

Attorneys can counsel clients for hours about what to expect during divorce, yet it seems something unexpected or challenging will still happen to complicate matters. Alimony or spousal support is one such issue that can take an otherwise amicable divorce and spin it 180 degrees. While communication between a lawyer and client is a crucial aspect of any legal issue, there comes a time when action takes center stage.

Understanding what alimony is and how it is awarded

When a couple decides to go their separate ways and dissolve their relationship, among one of the reasons each of the partners in the marriage will rush to hire their own attorneys is to protect their access to the lifestyle they are accustomed to living. While some couples have prenups in place that pre-determine what becomes of a relationship should it come to an end, those who don't inevitably end up fighting it out in court.

Can alimony payments impact your credit worthiness?

While the most important considerations for seeking alimony payments are often whether you need the extra support to sustain your lifestyle post divorce, you might also want to remember that these extra payments can play into other decisions in the future. One area where alimony payments might matter as you move past your divorce is in your ability to purchase a new home.

Some basic information about alimony determinations

Alimony is a payment from one former spouse to the other following a divorce. Traditionally, alimony is seen as being paid by the man to the woman, but a breakaway from traditional gender roles in marriage has made that notion outdated. Alimony might be required of either party in a divorce.

What payments are considered alimony?

For purposes of determining alimony payments to report on tax returns, the Internet Revenue Service provides some fairly specific breakdowns on what is and is not considered alimony support by the IRS. Child support, for example, is not considered alimony, while payments that cover expenses for a home that you own in joint capacity with your ex-spouse could be considered alimony.