Types Of Alimony
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FAQ
You must pay alimony by cash or check for the benefit of a spouse or former spouse. The value of in-kind alimony?for example, giving your spouse your car?isn't deductible. Follow the documents and designate payments as tax-deductible.
Florida provides five types of alimony: temporary, bridge-the-gap, rehabilitative, durational, or permanent. Couples can negotiate the terms of the alimony award, including the type, duration, and amount of support. However, if you can't agree, the judge will evaluate your circumstances and decide for you.
Alimony is usually around 40% of the paying party's income. This number is different in different states and different situations.
Short-term alimony is the most common form of alimony. It is often preferred over long-term alimony when the parties were married for a relatively short time (usually less than 10 years) or an ex-spouse needs help with becoming self-sufficient after divorce.
Alimony or Separate Maintenance ? In General Amounts paid to a spouse or a former spouse under a divorce or separation instrument (including a divorce decree, a separate maintenance decree, or a written separation agreement) may be alimony or separate maintenance payments for federal tax purposes.