Jacksonville Alimony Lawyer
**NEW UPDATES TO ALIMONY TAX LAW!**
Alimony has historically been tax deductible for the payer, and taxable income for the recipient. However, with the new Tax Cuts and Jobs Act (TCJA), that is all about to change.
If you are strongly considering divorce and have reason to believe you may be responsible for alimony payments, now is the time to act. Your divorce instrument must be executed prior to Dec. 31, 2018, in order for it to be grandfathered into to the current tax law.
This also applies to anyone who may be looking to modify current alimony arrangements. Failure to move quickly can result in a huge tax liability for you.
This means that it is imperative that you begin the process as soon as possible.
Avoid paying more for your Alimony! Call Jacksonville Alimony Attorneys Grigaltchik & Galustov today at (904) 701-7180!
Under Florida law, in the event of divorce, a spouse may be entitled to receive alimony (spousal support) from the other spouse. In determining whether an award of alimony is proper, the court is required to first determine whether one spouse has a need to receive alimony and the other has the ability to pay. Once such determination is made, the court is required to consider no fewer than ten (10) separate factors, ranging from the standard of living established during marriage to all sources of income available to either party, in determining the proper type and amount of alimony to be awarded.
When it comes to alimony, we are the Jacksonville Family Law Firm that will give you the legal representation you need during the divorce process.
Four (4) types of alimony are expressly recognized under Florida law, each with different requirements and intended effects. Bridge-the-gap alimony is intended to assist a spouse in transitioning from married to single life, may be awarded for a maximum period of two (2) years, and is non-modifiable. Rehabilitative alimony is intended to assist a spouse in acquiring or re-acquiring education or skills to improve employability pursuant to a specific plan of rehabilitation and is modifiable on grounds of a material, unanticipated substantial change in circumstances. (Please see the Modification section on this website for further information regarding modifications of prior judgments.) Durational alimony is intended to provide economic assistance to a spouse for a specified duration that may not exceed the duration of the marriage, and is modifiable with regard to the amount awarded, but not the duration. Finally, permanent alimony may be awarded upon a determination that it would be unfair or unreasonable to award any other type of alimony under the circumstances and is modifiable on grounds of a material, unanticipated substantial change in circumstances; an award of permanent alimony is presumed in cases involving a long-term marriage (more than 17 years), permitted in cases involving a moderate-term marriage (between 7 and 17 years), and may be awarded only upon a showing of exceptional circumstances in cases involving a short-term marriage (less than 7 years). Even though, alimony appears similar to child support at first glance, there are many very important differences between the two kinds of support. (Please see the Child Support section on this website for further information regarding establishment and enforcement of child support.)
Unlike child support, alimony may be waived by the potential receiving-spouse, and such waiver is non-modifiable. Furthermore, typically, alimony is tax-deductible to the paying spouse, and taxed as income to the receiving spouse. Finally, the issue of alimony may be addressed and resolved by individuals through the use of premarital and post-marital agreements. (Please see the Marital Agreements section on this website for further information regarding premarital and post-marital agreements.)
In any event, if alimony is a matter of dispute in your case, you should consult with an attorney experienced in family law litigation at Grigaltchik & Galustov, P.A. at (904) 701-7180, who will fight for your rights and help you obtain and present crucial evidence in support of your position to the court.