When you are going through a divorce, one of the things that becomes the most apparent is the change in financial stability, not only are you going to be downsized half your income, the challenging part is transitioning and adapting. Are you unsure if you can obtain spousal support? How is that determined and what… Continue reading →
Posts Tagged ‘income’
Do I Owe my Spouse’s Debt?
What happens when the marriage you entered into with such high hopes is headed for divorce court? Money has become a big point of contention, even in intact marriages, but has also become the leading cause of divorce – bills are continually rising and it costs a lot of money to raise children. Whether you… Continue reading →
Spousal Support
During divorce proceedings a court may award spousal support to one of the parties. The purpose of spousal support is not to provide for any economic effects of the divorce by continuing to pay income to the individual who either does not have a job nor has a lower-paying one. Unlike child support, spousal support… Continue reading →
Alimony/Spousal Support
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 →
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 →
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 →
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