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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Ohio courts may award two types of alimony: temporary and permanent. Temporary alimony may be awarded for the time that the divorce is pending. At that time, the judge will issue permanent order.
How Is Alimony Calculated in Ohio? While there are no set guidelines for determining spousal support payments in Ohio, the law requires the courts to assume that both spouses contributed equally to the marriage, whether that contribution was financial or caring for their children and the home itself.
The court presumes that the spouses contribute equally to all the marital property they acquire during the marriage. At divorce, the court divides the marital property equally between the spouses unless an unbalanced result is more equitable. The court can include either spouse's separate property, too.
Ohio courts will not award alimony unless the spouses are married for at least five years. Besides, the court may not grant a lifetime spousal support if the marriage lasted less than 20 years.
One way that spouses without businesses may attempt to hide assets is through setting up trusts or ?gifting? money to someone who will return it after the divorce is finalized.
If your divorce document has a modification provision, either spouse can ask the court to modify or end alimony. For the court to modify or terminate alimony, there must be an involuntary change in either spouse's financial circumstances that was not foreseeable when the alimony award was made.
In Ohio, you may receive temporary or permanent spousal support in the form of personal property and/ or financial contributions in the form of a lump-sum disbursement or recurring payments.
In Ohio, spousal support may last indefinitely, may be modified up or down depending on the language in the decree, or terminate upon a certain date or specific event.
