Information On Alimony

Alimony is a legal financial agreement between separated or divorced couples. One partner provides regular payments to the other and is only available to couples who have been legally married. Throughout the United States, each state law on alimony differs. However, there are three common types of alimony. Lump sum alimony is an arrangement where the courts allow payment to be calculated and paid at once. This may sound like a good idea to both parties but because of the taxes this arrangement is not always favorable. Temporary alimony is also known as rehabilitative alimony and is an arrangement when one party is responsible for gaining financial independence and only requires support for a period of time. In some cases, the money is used to for further education or skill training. Permanent alimony is when payments are made regularly for an indefinite period without a fixed end date.Unmarried couple have palimony for relief. Traditionally, married couples consist of a working partner and a domestic partner. The working partner provides financially for the couple, while the domestic partner contributed in other ways, most notably by physically and emotionally supporting the working partner, keeping the home up, and in many cases, caring for children. When a marriage dissolved, the domestic partner was awarded alimony as a means to honor the promise of lifelong financial support in recognition of contributions made to the relationship. Some argue that alimony is too easily abused these days. The type of alimony awarded is based on circumstances and considerations. A good example can be how long the marriage lasted, ability to provide for oneself, and sacrifices made for the marriage. Alimony is a complicated area of family law. It is best to speak with an experienced legal counsel if you have questions regarding alimony.

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