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alimony Archives

Rules for tax-deductible alimony payments

When North Carolina couples get a divorce, one person may be obligated to pay alimony. Usually, the recipient must pay taxes on the alimony while the payer can deduct it from taxes. However, there are several provisions that must be in place before this deduction will be allowed. The people must be in separate households, the payment must be one that does not continue after the death of the recipient and the agreement must not specify that the alimony is not deductible or taxable. In 2017, the U.S. Tax Court also found that if the amount claimed as alimony is not specifically mentioned in the legal divorce or separation agreement, it cannot be deducted.

Alimony and taxes: Can I deduct my alimony payments?

If you're paying a significant amount of alimony to your ex-spouse each month, you're probably wondering what tax benefits you might be able to receive. After all, the income that you're sending to your spouse is not income that you're directly benefiting from. Shouldn't your ex be responsible for paying income taxes on the money and not you?

Will alimony be part of your divorce? Maybe

As you are preparing for divorce, you may be wondering if you will have to pay your future ex-wife alimony in addition to child support. Unfortunately, divorce is rarely a clean break. Very often, couples will always have some sort of relationship after divorce, especially when support payments are involved.

Is there an alternative to monthly alimony payments?

Monthly alimony payments represent a significant financial strain for the individual required to make them. Some spouses try to avoid the prospects of having this monthly obligation out of the fear that they may not be able to make the payments on time, which could land them in contempt of court or in breach of a divorce agreement resulting in serious financial and legal consequences. Fortunately, there is an alternative to monthly alimony payments.

Tax lessons from Depp and Heard's divorce settlement

Most North Carolina residents don't have as much money as Johnny Depp, but the actor's divorce from actress Amber Heard can still teach some important tax lessons. After a very public breakup, the couple settled their divorce with an agreement that Depp would pay Heard $7 million in alimony. Instead of receiving the money, Heard allowed Depp to send it as donations to Children's Hospital Los Angeles and the American Civil Liberties Union.

Alimony: answers to common questions

Financial matters are at the heart of every divorce, and alimony is an important factor for those who have high-value assets or have been married for several years. Understanding what alimony is and how it is awarded can help ensure you are prepared for court and know what to expect.

Man ordered to pay spousal support to ex-wife despite prenup

North Carolina couples who sign a prenuptial agreement cannot always be certain that the provisions of that document will be upheld in court. One woman challenged the terms of a prenup that denied alimony in the event of a divorce. She argued that because her ex-husband had signed an I-864 Affidavit of Support, which affirmed his financial support of her since she was an immigrant, he was obligated to continue to supporting her.

Afeni Shakur's divorce case shows importance of prenups

Sources report that Afeni Shakur, the mother of late rapper Tupac Shakur, has filed for divorce against her husband of 12 years, Gust Davis. Ms. Shakur apparently did not have a prenuptial agreement with her husband in place, and he is reportedly seeking a significant amount of property, including the right to live in the couple's 50-acre ranch in North Carolina.

Courts have wide discretion in North Carolina alimony cases

The amount of discretion courts are given in alimony cases here in North Carolina is considerable. For one, there aren't strict, detailed guidelines in the state for when a court can grant alimony when an alimony request is made in a divorce case. The main things a court needs to find to issue an alimony award are that there is a supporting spouse and a dependent spouse and that issuing such an award to the dependent spouse would be equitable given all relevant factors. The only situation in which stricter rules apply is when there are findings of illicit sexual behavior.  

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