What is alimony?
Alimony, also known as spousal support, is a payment made from one former spouse to another after they are divorced or legally separated. This payment is intended to help the receiving spouse maintain their standard of living until they are able to become financially independent. In Washington, alimony is determined by the court, considering factors such as each spouse’s income and financial needs, their length of marriage, their age, health and education levels, and their roles during the marriage. These payments are usually made for a pre-determined period of time, until the receiving spouse is able to become financially independent. Alimony payments can be either court-ordered or voluntary. When court-ordered, the payments are typically set based on the standard of living the spouses enjoyed during their marriage, and can be modified if either spouse’s financial situation changes. Voluntary alimony agreements are not enforceable by the court, but it may be helpful for former spouses to agree and sign a contract outlining the details of the payments. In general, alimony payments are considered taxable income by the IRS, while payments made by the paying spouse can be claimed as a deduction on their taxes. Alimony payments can be essential for a spouse’s financial security after a divorce or separation, and help ensure that both spouses are taken care of after parting ways.
Related FAQs
Does a general alimony award terminate upon remarriage?Are alimony payments taxable to the recipient?
Does alimony have to be included in a divorce settlement?
Is alimony paid during the divorce process?
Is alimony awarded in every jurisdiction?
Are alimony payments deductible for the payor?
Are alimony payments considered earnings for Social Security purposes?
How does a court consider the income of a stay-at-home parent when awarding alimony?
Is alimony permanent or temporary?
Are living expenses included in an alimony award?
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