This is an agreement in which Spouse A (the spouse who is ordered by the court to make alimony and/or child support payments to Spouse B) must put assets (the principal) in a trust, from which the payments are made to Spouse B.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
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1993), to determine the need and amount of any alimony award in Mississippi. There are several basic types of alimony in Mississippi, including: (1) temporary alimony; (2) permanent alimony; (3) lump sum alimony; (4) rehabilitative alimony; and, (5) reimbursement alimony.
Period Alimony in Mississippi consists of payments set at specific time intervals for a certain period. For example, this could be a monthly payment for exactly ten years, or an order that lasts until a specific event occurs. This type of alimony ends when the dependent spouse gets remarried or if either spouse dies.
The following are the primary types of alimony in Mississippi: Periodic Alimony: Periodic alimony is a monthly sum paid to the recipient spouse until the death or remarriage of the recipient spouse, or until the death of the paying spouse.
In Mississippi, a spouse can petition the court to award financial support from one spouse to another. This is known as alimony. If you can show financial need and your spouse has the financial means to support it, the court can award you alimony, also known as spousal support.
Mississippi law defines two types of alimony, lump sum and periodic payment. Lump sum alimony is a fixed and final dollar amount paid either in a single payment or over a period of time. The court cannot later modify the amount, nor does the death or remarriage of either spouse affect it.
The hallmark of any alimony case is that one spouse needs financial support and that the other can pay. To determine if alimony is appropriate, the court will evaluate the following factors: both spouse's income and expenses. each spouse's health, ages, and earning capacities.
A married couple's shared assets must be divided ?equitably? in a Mississippi divorce. However, the assets are not usually divided in a 50/50 split. Instead, the courts will fairly divide the assets while accounting for each spouse's needs, their standard of living before the divorce, and other factors.
