Alimony meaning: –
Alimony is court-ordered support paid by one spouse to the other for a period of time after a divorce. Alimony is paid by a spouse who has the ability to pay to a spouse in need of support for a period of time. Only people who are divorcing or are divorced can ask for and receive alimony.
⦁ Alimony Paid is Expenses or deduction
⦁ Alimony Received is a income
Who can ask for alimony :-
Either you or your spouse, or both of you, can ask for alimony at the time of divorce. If the original divorce judgment didn’t mention alimony at all, you can file a complaint for alimony for the first time at any time after your divorce.
Types of alimony :-
There are 4 different types of alimony that may be awarded:
⦁ General term alimony. Support paid regularly to an ex-spouse who is financially dependent on the former spouse. The length of time general term alimony is paid depends in part on the length of the marriage.
⦁ Rehabilitative alimony. Support paid regularly to an ex-spouse who’s expected to be able to support themselves by a predicted time.
⦁ Reimbursement alimony. Support paid regularly or one time after a marriage of no more than 5 years to make up for costs that the ex-spouse paid to help the paying spouse, such as such as enabling the spouse to complete an education or job training.
⦁ Transitional alimony. Support paid regularly or one time after a marriage of no more than 5 years to help the spouse receiving the alimony to settle into a new lifestyle or location as a result of the divorce.
Alimony Paid is Expenses or deduction :-
Alimony is a regular amount of money that a court of law orders a person to pay to his or her partner after a divorce (= marriage that has legally ended) or a legal separation.