Time is ticking down before the Tax Cuts and Jobs Act (TCJA) goes into full effect on Jan. 1, 2019. Once it does, it will change how both alimony and child support are dealt with.Child support One of the most noticeable changes under the new law has to do with the...
Alimony
Florida alimony formulas help to reduce judge’s bias
The idea of one spouse paying another a certain amount of money to support them so that they could continue to live the same lifestyle post-divorce that they did while married is a concept that originated in England. Although the idea of alimony or spousal support was...
How will the new alimony law impact me?
A new tax code, that's known as the Tax Cuts and Jobs Act, is slated to go into effect on Dec. 31, 2018, that will greatly impact divorcing spouses' finances.Beginning the following day on January 1, 2019, the long standing option for alimony payers to deduct their...
What are my options if my ex stops making alimony payments?
Alimony once was a wife and stay-at-home mother reaching an agreement with her ex-husband regarding both spousal and child support. He agrees to pay a set amount every month and pays for a few months, but then suddenly stops. If this describes the predicament you find...
What does a judge consider when making an alimony award?
Contrary to what many paying spouses may think, alimony is not intended to penalize the paying spouse for deciding to move forward in divorcing their husband or wife. It's instead intended to help equalize the playing field between one spouse and another, especially...
Why new alimony tax laws may lead many to speed up their divorces
During the past 75 years, each state has been responsible for setting their own rules for how decisions regarding alimony awards would be made. This has made it difficult for legal experts to give a single answer about how its tabulated.What hasn't changed during this...
How is Florida alimony calculated?
In some jurisdictions, child support awards are determined using a formula whereby one parent's income, the amount of children he or she has and other factors may affect how much the other one is ordered to pay. While modifications can be made in some cases outside of...
How will the tax changes to alimony affect divorcing couples?
Just before their holiday break, Congress passed and President Trump signed the much-talked-about and highly-debated tax reform bill. Among the changes in the sweeping bill is that alimony will no longer be a factor when divorced people file their income taxes,...
Instances in which you can request alimony modifications
In order for a spouse to get the amount of alimony he or she has to pay his or her ex reduced, it often requires him or her to show that he or she experienced a decrease in the amount of pay brought in on a regular basis. In contrast, for a recipient spouse, he or she...
Factors that may decrease your spousal support payments
If you've been ordered to pay your ex alimony, then you may feel as if your obligation to pay is never going to end. This may especially be the case if you find yourself incapacitated by illness, newly remarried or unemployed.Situations like this may make you feel as...