Are alimony payments considered marital assets?

Alimony payments, also known as spousal support, are not considered marital assets in Oklahoma. This means that when a couple divorces, the alimony payments are not divided up among the two parties as part of the marital assets. Alimony payments are separate and apart from any other assets that are divided in a divorce settlement. These payments are made from one spouse to another to help the financially dependent spouse maintain financial stability and independence after the divorce. In Oklahoma, alimony payments are determined based on the specific needs of both parties, as well as the amount of the couple’s marital assets. The age, health, education, and employability of both spouses are taken into consideration before a decision is made about alimony payments. Depending on the circumstances, alimony payments can be awarded for a set period of time or can be continued until the receiving party meets certain goals, such as remarriage or gainful employment. In Oklahoma, alimony payments are taxable income to the party receiving it and deductible for the party making the payments. When the paying spouse makes alimony payments, the spouse receiving the payments must report it as income. The paying spouse can deduct the alimony from the taxable income in the year the payments are made. All in all, alimony payments are not considered marital assets in Oklahoma. These payments are designed to help the financially dependent spouse to have financial stability and independence after a divorce.

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Are alimony payments considered marital assets?

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