Massachusetts residents who are either under an order to pay alimony or who receive it from their former spouses through court order or agreement need to be aware of how alimony is treated under federal income tax law. The IRS allows those who pay alimony to deduct the payments, while requiring those who receive it to report the amounts as income.
Massachusetts couples contemplating divorce may know that a spouse might gather evidence he or she may use during divorce litigation. Aside from claims that marriage vows were broken, evidence may be focused on claims a spouse may make for receiving alimony or being unable to pay it. Likewise, when asset division takes place, it is dependent on the financial statements each spouse may be obligated to turn into the court. Proving that a spouse is not being truthful may require presenting evidence to the contrary.
Divorces in Massachusetts could last months or even longer than a year while a couple tries to work out an arrangement for post-marital life. The process can also drag on when a couple must go to court for a judge to make determinations regarding child custody, alimony or property division. While dissolving a marriage can have high financial costs, there are ways to make divorce less expensive.
Alimony is one of the more important issues for couples going through a divorce. When a person is making monthly payments to their former spouse in order to support them economically, this is known under Massachusetts law as general term alimony. This is ongoing, as opposed to rehabilitative alimony, which is usually for a shorter period after which the recipient is expected to be able to generate their own income.
Massachusetts family court judges can and sometimes do order the payment of money separate from child support from one spouse to another for a specified length of time following a divorce. This is called alimony, and can be requested by either party. Although a court may grant it, the court is not required to do so.
When a Massachusetts couple decides to divorce, they may not have given much thought to what type of divorce is most appropriate for them. It is even possible that they may be unaware that there are multiple categories of divorce that can affect how the process is handled. The two types of divorce available to most couples are either a no-fault or fault divorce.
Tax season has already come and gone for 2014, but that doesn't mean that next year’s taxes should be ignored until the calendar rolls over. The status of a person’s marital status is based upon the previous year. If a Massachusetts couple was married on the last day of the year, then they file as married. If the divorce was finalized before then, each party will file as single. There are tax implications that may warrant careful attention to certain aspects of the divorce settlement.
The disintegration of a marriage is an emotional and stressful event. However, the legal strain of divorce can be alleviated with the right assistance so that individuals can focus on the health and well-being of their family. Negotiation can give those involved the opportunity to create a divorce settlement in a more amicable fashion. Recently, Massachusetts enacted a new alimony law for divorce proceedings that has been under scrutiny by many.