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Posts tagged "alimony"

What alimony-related documents are useful to retain?

It is common for a final divorce decree to contain stipulations requirin g one of the parties to pay some form of financial support to the other party. In a previous post on this blog, we covered the subject of alimony and its purpose. In this post, we will briefly discuss what documentation a payer of alimony should keep for his or her personal records.

What is the purpose of alimony?

When you choose to dedicate your life to a partnership with someone else, your hope is that the relationship will remain intact for the duration. Unfortunately, the circumstances of a marriage can change through time. Sometimes emotional distance develops gradually, due to a slow drifting apart. Other times a serious rift can occur because of some unforeseeable event or unforgivable trespass.

Alimony should remain separate from other transactions

When getting married, a divorce is rarely on a person’s mind. Positive thoughts about a future life together take center stage. However, when the reality of life changes and a divorce does result, many serious issues can arise. Houston residents can find themselves struggling with decisions about parental relocation and visitation plans for minor children, property division and the payment of spousal support.

How a divorce may impact your taxes

A divorce can impact almost every part of a person’s life. Any Houston resident who has directly experienced a divorce knows this all too well. Some of the changes may be positive while others are frequently not so positive. Each divorce process is unique and has its own associated set of pros and cons to involved parties.

Advice for people contemplating a divorce

For some couples in Houston, a divorce process is initiated rather abruptly. For others, the end of a marriage has been considered and even planned before formal action is taken. The divorce process includes a complex mix of emotional, financial, legal and logistical matters. Even an uncontested divorce can require agreements concerning alimony, child support, parenting time and more.

Spousal support changes based upon new partners

Getting divorced can be one of the hardest life experiences that a person may face. As many Houston residents can attest, it is also not just a single-event experience. Many family law issues include ties that bind former spouses for years and changes in circumstances which may affect the original divorce settlement terms. Certainly the involvement of minor children is a common situation which requires ongoing interaction between people after they are divorced.

The relationship between divorce and Social Security

When a Texas family faces hard times and the challenges lead to the end of a marriage, the range of emotions and issues to overcome are great. Whether a complex divorce or an uncontested divorce, the process is never easy. Child custody, visitation plans, alimony, property division and more must all be agreed upon before a divorce is able to be finalized by the courts.

Tax-deductible divorce costs are few

The cost of a divorce is known to prevent some people from actually going through with the process. While not every divorce is cost prohibitive, some can become quite expensive. Divorce legal issues can find Houston spouses at odds and struggling to find common ground, extending the amount of time—and money—involved in coming to a mutually agreeable settlement. No matter the cost of a divorce, there is typically some financial impact.

When divorcing, consider divorcing tax filings as well

When a Houston husband and wife make the difficult decision to end their marriage, there are many changes that need to be instigated. These can include changes in who lives where, splitting time with any minor children, property division, arrangements concerning alimony or child support and more. With a divorce signaling the end of most shared experiences and belongings, there can still be a time during which some things happen jointly.

Identifying sole or shared debt during a divorce

Dividing marital property and assets during a divorce is often one of the most challenges part of any divorce. Many a Houston couple has seen their divorce process extended due to difficulties in reaching appropriate settlements. One factor that can make the division of property hard is that it is not only assets but also debts that must be identified and split. At times, knowing whether to apportion a given asset or debt as sole or marital property is not always so clear.

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