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Alimony can significantly impact your tax situation, especially in a high-asset divorce. Whether you are paying or receiving alimony, it’s important to understand the tax rules that apply. Michigan follows federal tax guidelines, which changed under the Tax Cuts and...
Divorce can be an emotional and challenging experience, and financial stability plays a big role in navigating this transition. Alimony, also known as spousal support, can provide financial assistance to one spouse after a divorce. If you are going through a divorce...
Alimony payments often raise questions. This is especially true when one of the former spouses remarries. Understanding how remarriage impacts these payments helps clarify financial responsibilities for both parties. While alimony arrangements vary case by case,...
In Michigan, the conduct of the parties during marriage can significantly affect alimony decisions. Alimony, also known as spousal support, is financial assistance provided by one spouse to the other after a divorce. The purpose is to help the lower-earning spouse...
Alimony, or spousal support, addresses financial imbalances post-divorce by supporting the lower-earning spouse.. Factors including each spouse's income, the duration of the marriage and the recipient's needs determine the amount and duration of alimony. In Michigan,...
Not every judge will order alimony in every divorce. It is an option, but not a mandatory requirement to finalize a divorce decree. Alimony is money that one spouse pays to the other. It can happen during the divorce, after it or both during and after. Unless there is...
If you have decided to divorce your spouse, you might worry about your ability to support yourself after your marriage ends. This is probably especially true if you opted to stay home and raise children while your soon-to-be ex-spouse worked and earned money. Luckily,...
If you are going through a divorce, you might have some well-founded fears about being able to support yourself financially on a single income. This is where alimony can be helpful. Indeed, provided you qualify for it, alimony can help you maintain your current...
Whether you are a custodial parent or a non-custodial parent, parenting time can become a major issue if the other party is not cooperating and abiding by the terms of a court order. With parenting time and all other issues related to child custody and visitation,...
If you have a high net worth and owe alimony after recently ending your marriage or you receive payments from your former spouse, it is vital to have a clear understanding of various legal issues related to spousal support. For example, you need to recognize that...
