While getting a divorce signifies the end of your marriage, it does not necessarily mean that your financial obligations towards each other are over. Alimony or spousal support is payment from one spouse to the other that can continue long after your divorce is finalized. It is said to be a payment of support from… Continue reading →
Posts Tagged ‘income’
How are property and debt divided in a divorce?
It is common for a divorcing couple to decide about dividing their property and debts themselves (with or without the help of a neutral third party like a mediator), rather than leaving it to the judge. However, if a couple cannot agree, they can submit their property dispute to the court, which will use state… Continue reading →
When is spousal support allowed?
Spousal support, also known as alimony, is a payment made by one spouse to the other for support during or after legal separation or divorce. A party can ask the court in his or her first filing to award temporary alimony to help the party meet expenses during the divorce. Similarly, a party seeking a… Continue reading →
Divorce can take a toll on a person’s emotion and finance
In some circumstances divorce can take a financial toll on a person’s finances. If you are currently undergoing a divorce, then you will want to talk these financial tips into consideration in order to help you get back on your feet after the split is finalized. First of all, it is wise to understand your… Continue reading →
Child support defined
Child support, as its name implies, is a means of providing money from the higher earning parent to the lower earning parent in order to provide for the necessities of life (and other items as well) for the benefit of the minor children. Under California law, parents are required to continue providing financially for their… Continue reading →
Prenuptial agreement contract
Are you planning a wedding? Do you have assets that you would like to protect just in case your marriage does not last? Do you have questions about whether a prenuptial agreement is right for you? A prenuptial agreement is a contract between two unmarried people that decide the terms of a divorce before they… Continue reading →
Divorce and tax consequences
When a couple is divorcing and one of their main concerns is division of property, they hardly ever think about the tax consequences they will encounter down the road. When it comes to child or spousal support, these issues are treated differently under the tax laws. For example: · A parent who pays child support… Continue reading →
Do you have spousal support issues?
Spousal support is a monetary payment that is made by one spouse to the other in the event of a divorce or legal separation. The spouses can either agree upon the amount and duration of the payments or they can have the family court intervene. When the court intervenes, the judge reviews each spouse’s: ·… Continue reading →
Can I lower my child support payments?
With today’s economy and job market, unexpected, significant decreases in income can be a reason to request modification of your child support order. If you have lost your job or received a decrease in your salary and are having problems meeting your child support requirement, you can ask the court to modify the amount of… Continue reading →
Paying spousal support
A couple who has been married for a long time and decides to divorce always has issues that need to be addressed. The biggest concern usually involves money – providing for the children and the divorcing spouse. In most cases, the spouse who is the higher income earner is responsible for support of the other… Continue reading →
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