If you count yourself among the many people across Texas making their way through a divorce, you may be experiencing considerable change in your life. You may, too, need to take a new and different approach to filing your taxes this year in the wake of your divorce, because such a significant life change can have substantial tax implications. At Laura Dale & Associates, P.C. we recognize that divorce brings with it many changes, and we have helped many people facing similar circumstances navigate these changes and make informed decisions along the way.
Will the court make you pay manimony when you divorce?
As you and your husband go about seeking a Texas divorce, the issue of spousal maintenance may become a big one. While spousal support, which used to go by the name of alimony, traditionally has been paid by former husbands to former wives, this is no longer necessarily true.
Do I have to pay alimony after a divorce in Texas?
Alimony, spousal support or spousal maintenance, as Texas courts call it: These terms all refer to the same legal concept. Either you or your former spouse would take on part of the financial responsibility for the other after your divorce.
Ending alimony in cases of cohabitation
Of all of the issues that divorced couples in Houston have to deal with, alimony may be the most contentious. Perhaps the reason for this is the perception that an obligation to pay alimony is often punitive. While the contribution that one may have had in ending their marriage may be something considered when rewarding alimony, its general purpose is simply to support a financially disadvantaged divorcee until they are able to secure gainful employment.
What are the different types of alimony in Texas?
If you are filing for divorce in Texas, you may be eligible to receive alimony as part of your divorce settlement. Alimony is designed to help you get back on track if you were financially dependent on your spouse while you were married. Whether you stayed at home to take care of the children or you put your career on hold so your spouse could further their education or career, you may receive financial help from your spouse to help you get on your feet and maintain a consistent quality of life.
Retirement, alimony and the new tax rule
Couples who decide to file for divorce in Texas may be ordered to pay alimony as a part of the divorce settlement. Alimony is designed to help people who are dependent on their spouse’s income, to get on their feet, make ends meet and maintain a certain quality of life once the divorce is finalized.
New tax bill brings changes to spousal support
People who pay spousal support in Texas are accustomed to writing this expense off on their taxes. However, alimony may be one more expense that people cannot deduct during tax season.
How long can you expect to pay or get spousal support in Texas?
Regardless of which end of the equation you find yourself on during your Texas divorce, you may have questions about whether you will have to pay, or, conversely, receive, alimony payments. Many divorcing Texans have questions about how long they may have to pay, or may be able to receive, what the state calls spousal maintenance and how the state arrives at the decided upon amount of the maintenance.
What does Texas consider when awarding spousal support?
If you live in Texas and your marriage is nearing its end, you may have concerns about how you are going to provide for yourself once your divorce finalizes. Maybe you have been out of the workforce for quite some time so that you could raise a family, or perhaps you sacrificed your own career growth so that your spouse could pursue his or her professional dreams. Regardless, you may have questions about whether you will be eligible for spousal support or maintenance, and if so, for how long.
Can unpaid spousal support affect Social Security?
After a divorce, some people may struggle with various responsibilities, but spousal support payments can be particularly challenging for people who are experiencing financial problems. Unfortunately, falling behind on spousal support payments can create even more financial hardships for both parties. As a result, it is pivotal to understand the importance of staying current on alimony obligations and some of the consequences associated with becoming delinquent. Many people are surprised to find that missing spousal support payments can affect their lives in other ways, such as their ability to receive Social Security benefits.
