Have you and your spouse reached an impasse? If you are entering into a separation or divorce agreement with your spouse, or even if you have issues to resolve through the court, it is likely that you have questions about the economic implications. Whether you are seeking alimony payments or are concerned about the prospect of paying spousal support, the experienced lawyers at Repko Law, LLC, can help you navigate these financial pressures.
What Is Alimony?
Alimony is money that one former spouse pays to the other after the divorce is final. It can be court ordered or paid by agreement and is typically issued in monthly installments. Alimony Pendente Lite (APL) is support paid while the divorce lawsuit is pending. APL is not automatic and only has to be paid if it is requested by the spouse with less money and is court ordered. Spousal support is money paid by the higher wage earning spouse to the lower wage earning spouse when the parties have separated and are no longer living together.
How Long Does Alimony Last?
The duration of time that one former spouse must pay alimony to the other after the divorce is final is determined by the court and considers situational factors including the length of marriage, discrepancy in income, contributions made during the marriage, savings, insurance, and inheritances, among others.
How Much Is Alimony?
There are many factors that affect the court’s determination regarding the nature, amount, duration, and manner of alimony payments. Among the 17 statutory factors a court must consider when determining a reasonable alimony award include the length of the marriage, the income of the parties, and the custody arrangement for the minor children, if any.
Is Alimony Taxable?
Qualifying alimony, APL, and spousal support payments are to be reported as taxable income by the receiving spouse. The spouse who is making the payments can report the amount as a tax deduction. There are certain payments within a divorce or separation agreement however that are not considered to be alimony. For example, child support in Pennsylvania is not considered to be alimony. Click here for more information about child support in Bucks County and Montgomery County, PA.
As divorce law attorneys with experience negotiating alimony and support agreements in Bucks County and Montgomery County, Pennsylvania, including Doylestown, PA, we are available to answer any questions or concerns you might have. If you are seeking representation for your divorce or support matter, or if you need help negotiating your alimony agreement, contact Repko Law, LLC.