Alimony Meaning In Law. Oct 07 2019 The purpose of alimony is to limit any unfair economic effects of a divorce by providing a continuing income to a non-wage-earning or lower-wage-earning spouse. The judge in this case may award alimony or may award a token amountsuch as 1 a yearso that the wife has the option to request an increase later on modifying an award is easier than winning one after the divorce.
It can be court-appointed or worked out between spouses. While the divorce was pending. State law which varies by state governs the award of alimony to a spouse.
It can be court-appointed or worked out between spouses.
Alimony or separation payments are deductible if the taxpayer is the payer spouse. Generally the maximum presumptive duration of an award of general term alimony based on the length of the marriage. State law which varies by state governs the award of alimony to a spouse. Alimony or separation payments paid to a spouse or former spouse under a divorce or separation agreement such as a divorce decree a separate maintenance decree or a written separation agreement may be alimony for federal tax purposes.
