Boca Raton Alimony Lawyer
If you are planning to get divorced, you may be wondering whether alimony will be awarded in your divorce case. Whether you plan to be paying alimony or receiving it, you should understand clearly how alimony works in Florida. Alimony, which is sometimes known as spousal support or spousal maintenance in other places, can be awarded to either party in a divorce. There are different types of alimony, including bridge-the-gap, rehabilitative, duration, and permanent alimony. When you need assistance with alimony, you should get in touch with an experienced Boca Raton alimony lawyer as soon as possible.
What is Alimony in Boca Raton, Florida?
Florida alimony law makes clear that alimony can be granted to either spouse in a dissolution of marriage, but the court always begins by determining whether alimony is appropriate given whether one of the parties has a financial or economic need for it. Although courts “may consider the adultery of either spouse and the circumstances thereof” when determining the amount of alimony, fault does not come into play when determining whether alimony is appropriate. Instead, the court will first decide whether the party seeking alimony has a financial need for it, and whether the other spouse has the financial ability to pay.
If a court determines alimony is appropriate, it will next decide the type and amount of alimony. When determining the type and amount of alimony, in addition to the possibility of adultery, the court will look to some of the following factors for example:
- Standard of living established during the marriage;
- Duration of the marriage;
- Age of the parties;
- Emotional and physical condition of the parties;
- Financial resources of each of the parties;
- Earning capacity and employability of the parties;
- Contribution of each party to the marriage, including homemaking and child care;
- Responsibilities of each party toward minor children;
- Tax consequences of alimony; and
- Other factors necessary to do justice.
Tax Consequences of Boca Raton Alimony
You should know that the tax consequences of paying and receiving alimony changed in 2020. In previous years, the spouse who made alimony payments could deduct those payments from his or her income prior to paying taxes, while the spouse who received alimony would need to count alimony payments as taxable income and thus would need to pay tax on that money. For any divorces granted on January 1, 2020 and afterward, the tax liability is flipped. What does this mean for you?
Once alimony is awarded in your divorce case, the spouse who pays alimony will be responsible for paying income taxes on that amount, while the spouse who receives alimony no longer needs to count the payments as income and thus does not need to pay taxes on alimony payments.
Seek Advice from an Alimony Lawyer in Boca Raton
When you need assistance with alimony in Florida, it is essential to seek advice from an experienced Boca Raton alimony attorney. Our family lawyers know that the process of both awarding and modifying alimony can be complicated, and we want to make sure you understand your rights and obligations as a party who is paying or receiving alimony. Contact The Law Offices of Caroline Olson, P.A. to learn more about the family law and divorce services we provide to clients in and around Boca Raton, Florida.