Category Archives: Alimony

Finalize Your Divorce by New Year’s Eve or Pay 30 Percent More in Alimony!

Last year’s federal Tax Cuts and Jobs Act may have had corporate executives cheering, but the same can’t be said for people about to divorce. As an article this summer in Forbes explains, the act means divorce is likely to get much more expensive once the clock strikes midnight, ushering in 2019. If you don’t… Read More »

Wealthy Americans May Have an Incentive to Get Divorced Quickly

A recent article in The New York Times indicates that under the new Republican tax law, there may be an incentive for wealthy Americans pondering divorce to rush to get it done before 2018 is over. The primary reason for this is that the new Tax Cuts and Jobs Act will eliminate the previously existing… Read More »

How Alimony is Calculated in New York

In New York, spouses can receive either temporary or permanent alimony during and after a divorce, depending on the circumstances of the marriage. To determine if alimony is appropriate in a case, the judge carefully analyzes the needs of the spouse seeking the support and whether the potential payer is financially capable of providing that… Read More »

Why You Might Consider a Lump Sum Payment Instead of Periodic Alimony

There’s a chance you could be awarded alimony as a part of your divorce settlement. In this arrangement, you may have a choice between getting an upfront lump sum payment periodic payments spread out over time, especially if that alimony arrangement will be a short-term one. Although most people have periodic alimony arrangements, there are… Read More »

How to Ensure Your Alimony Payments are Tax Deductible

Did you know your alimony payments could be tax deductible, so long as you follow certain Internal Revenue Service (IRS) rules? If you pay alimony and abide by these guidelines, you could save a lot of money on your tax bill. The following are the seven requirements to which you must adhere to deduct your… Read More »

How to Negotiate a Fair Alimony Arrangement

Like any other aspect of your divorce, you can negotiate an alimony arrangement outside of the courtroom. Doing so allows you to have more control over your future, while also avoiding the expensive, time-consuming process associated with litigation. Each spouse in a divorce must provide certain financial disclosures at the outset of the divorce, even… Read More »

Does New York Still Have Lifetime Alimony?

New York State recently reformed many aspects of its Domestic Relations Law, including rules for permanent alimony. The new law creates an advisory schedule for the duration of permanent alimony based on the length of the marriage: From 0 up to and including 15 years — Alimony may last anywhere from 15 percent to 30… Read More »

Can My Divorce Take Longer than My Temporary Support Order Lasts?

A dependent spouse in a divorce action is generally entitled to temporary spousal maintenance, also called pendente lite alimony. However, since New York State reformed its alimony laws, courts have been asked to give greater scrutiny to how much alimony is awarded and for how long. Traditionally, temporary spousal support has run until the court… Read More »

The Importance of Pendente Lite Alimony

If you are a dependent spouse in an irretrievably broken marriage, you may feel like you’re being held hostage. How can you file for divorce, let alone litigate a contentious fight over property and custody, when your spouse controls the finances? Fortunately, there is a way for you to get temporary alimony, known in New… Read More »