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Alimony Caveats
The Equity in Marriage Institute offers a few caveats to alimony. First, the judge determines how much alimony a divorcing spouse receives, if any. Second, most states do not permit a spouse to retroactively seek modification of a divorce judgment that does not provide for alimony unless the agreement specifies otherwise. A nominal amount of alimony - even $1 a year preserves the right to ask for more money later. Third, in equitable distribution states, courts may award one spouse a larger share of the marital property and also require the other spouse to pay health insurance or reasonable medical expenses not otherwise reimbursed as alimony. Moreover, divorcing couples must be mindful of recapture, which refers to the ability of the IRS to recover the tax benefit of deduction or a credit taken by a taxpayer and, as it applies to divorce, prevents a divorcing couple from dividing their property and calling the distribution alimony. According to the Family Law Section of the American Bar Association, the jurisdictions weigh one or more of the spousal support factors as follows:
Suggested Reading
Resources & Tools
LUMP SUM -- Sometimes, a judge awards a one-time payment known as "lump sum" spousal support.
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Your Right to Child Custody, Visitation & Support Cover Price: $ Your Price: $17.95 You Save: $7.00 "A Plain English Guide to Protecting Your Children" Author: Mary L. Boland, Attorney at Law
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