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Questions about Lump Sum Alimony Laws

Deciding on alimony after an emotional separation or divorce can be quite tedious but necessary. One of the major benefits of lump sum alimony for the payee is to be able to continue a similar standard of life. There may be tax respite or tax levied on lump sum alimony.

Listed below are a few popular questions answered by Experts on lump sum alimony.

Does Mississippi state have alimony?

The state of Mississippi has alimony. Types of alimony recognized in Mississippi include permanent periodic alimony, lump sum alimony, rehabilitative alimony, and reimbursement alimony. Family law, including laws about alimony, can vary from state to state.

If a spouse is required to pay a lump sum to balance division of personal property within a certain period of time, is it considered lump sum alimony or spousal support in the state of Georgia?

This would likely be considered a lump sum alimony payment, which in legal terms is referred to as "in solido". It is usually tax deductible for the payor but taxable for the payee. Once paid and the property is split, there would be no further financial obligation, assuming there are no other clauses in the separation agreement.

If a person wishes to end the alimony obligation of his/her former spouse earlier than the stipulated time period, is it permissible?

In many cases, two people can end an alimony obligation by entering into a new agreement. The new agreement can be drafted by a lawyer or the concerned parties once they have mutually agreed on the changes. Both parties will need to notarize the document. The previous order should cease once this is done. Both parties may also be able to petition the court to terminate the original order given the new agreement.

Can monthly alimony obligation be given as lump sum alimony? What are the tax implications to the concerned parties? Can a person receiving lump sum alimony avoid having to pay higher taxes?

The consent of the spouse receiving the alimony is needed for this type of change. This is because he or she will need to bear the tax burden as it is considered "income" for the recipient. For the person paying the alimony, taxes will not be applicable as it is not his/her income.

Spousal support is taxable as income when it is received. There may be ways for the payee to characterize spousal support as a non-taxable item in order to avoid high taxes. For example, spousal support may be presented as attorney fees (past, present, or future) with respect to family code (section 2030). In such a case, the tax liability would be avoided by the person receiving the support and might shift to the person paying the alimony/spousal support.

Is interest on lump sum alimony being paid taxable?

The alimony itself should be tax deductible. However, the interest is a personal expense that may not have been incurred were the payments made on time. Hence the interest would most likely not be deductible.

Lump sum alimony might be a solution for a couple in the process of separating or could possibly alter an alimony obligation that spans several years. The benefits and burdens may vary, and a qualified legal expert may be able to clear up questions and concerns about your specific situation.

Ask a Family Lawyer

Ely
Ely, Counselor at Law
Category: General
Satisfied Customers: 9402
Experience:  Private practice with focus on family, criminal, PI, consumer protection, and business consultation.
7286322
Type Your Family Law Question Here...
characters left:
5 Family Lawyers are Online Now

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Family Lawyers are online & ready to help you now

Ely
Counselor at Law
Satisfied Customers: 8085
Private practice with focus on family, criminal, PI, consumer protection, and business consultation.
LawTalk
Attorney and Counselor at Law
Satisfied Customers: 6424
27+ years legal experience. I remain current in Family Law through regular continuing education.
FiveStarLaw
Lawyer
Satisfied Customers: 6336
25 years of experience helping people like you.

Recent Lump Sum Alimony Questions

  • My husband is court ordered by divorce decree in Maricopa County

    My husband is court ordered by divorce decree in Maricopa County Arizona to pay for a student loan that is in his ex-wife's name ONLY. The Ex took him took court November 20, 2014 for contempt because he had not paid on the loan from the date of the final divorce decree in 2007 because he lost the divorce paperwork while moving and did not have the account number to the loan. His ex-wife had taken out multiple student loans without her now ex-husband's knowledge that where revealed during the divorce. My husband wasn't sure when he called Navient back in 2007 which loan was the correct loan for his son without the account #. His ex-wife filed false police reports after their divorce and was extremely verbally aggressive the few times she contacted him by phone, going off on a rant before he could get the account number forcing him to hang up and avoid her calls. My husband immediately made a large payment on the loan when he received the court paperwork for the contempt because he now had account #. My husband represented himself at the court hearing and the judge ordered him to pay the next 27 payments because his ex-wife's attorney claimed that she had paid 8000.00 already, then they are to split payments until paid off. I was able to ask the judge before he left room if since my husband has no access to her student loan account because it is in her name only that he be sent the Navient statements and payment reminders by his ex-wife each month. The Judge agreed that my husband had a right to have that information sent to him. Here is one problem: because I could not see the paperwork my husband was handed I did not realize there was no evidence provided about the loan history and past payments to show that his ex-wife actually paid 8000.00 on the loan. We were required to send his ex-wife's attorney his e-mail and mailing address so a letter was generated on the 24th of November with that information and also requesting the loan history with all past payments. His ex-wife responded that the information was provided at court. All my husband was given was the current loan bill due with blank pages of loan history. This is what was sent in the next letter on the 23rd of December: "Regarding the loan documentation I am requesting, that I allegedly received at court on November 20, 2014, that your client speaks about in her December 3, 2014 e-mail; I was in no way given any documentation that shows the payment history on this loan during court. The only thing that I received at court on November 20, 2014, was the November statement with a blank page of loan information and loan details. I am again requesting, as I did in my November 24, 2014 letter, that I immediately receive documentation about the entire history of this loan to include all past payment amounts. Since I am legally responsible for paying this loan, yet have no access myself to obtain the loan details and payment history, I have a right to request this information from your client and expect to receive the information without delay in a blank e-mail before the next payment is due on the loan."
    If she does not provide the loan payment history how do we proceed??? Do we have a right to this information to see that 8000.00 was actually paid by his ex-wife if so how do we get it if she will not comply???
    We also had to address another issue with his ex-wife in the 23rd of December letter: "First, the address for mailing provided to the court is the exact same address that has been provided to you and your client in the letter dated November 24, 2014. I provided my current mailing address to the court on November 20, 2014, therefore, if the court had mail returned to them perhaps someone forgot to address the envelope, as my address does not appear on the copy of the envelope that was forwarded in the court documents in the e-mail sent today, December 23, 2014. If you send out an envelope with no address of course it will be undeliverable. To infer that I would provide a bogus mailing address to the court is an absurd accusation without merit, as you have made an assumption and not verified with the court that I actually provided a bogus mailing address. Please provide a copy of an envelope that was sent to the bogus address that is allegedly undeliverable. I received another court document regarding the ruling of contempt from you at my current address on December 18, 2014; that is the same address listed with the court on November 20, 2014, in the letter sent to you on November 24, 2014 and again provided above."
    This bogus address info came to us in an e-mail from her attorney sent to her in email then forwarded to us from her. She is now threatening that if we send anymore letters to her attorney she will pursue attorney's fee's??? Can she do that given the circumstances above (loan docs and defense) that we have had to contact attorney under??? There is also a harassment issue again too now she has my husbands e-mail???
  • my ex wife use my health insurance ID after we was divorce,

    my ex wife use my health insurance ID after we was divorce, she knew she could not use it, now I got a explanation of benefits for 25 thousand dollars after the divorce just for her.
    I wonder if I can suit her for fraud, or I can ask the court to she to pay the amount that the insurance company pay for her, I mean total expense on her, I should be entitle to ask for it since is my health insurance and she use it as a intent to committee fraud.
    she filed a court contempt asking me to pay some arrears child support, and alimony I am going to jail, but how can I ask the court to she pay what she illegally use of my health insurance
  • Im the only parent on my child birth certificate. And i want

    Im the only parent on my child birth certificate. And i want to move to another state to be with my other two kids. I am taking my son and moving to the other state tk be with my two other girls ... as of now will i get in any trouble for doing so? And how would that work? The reason why my two girls arent living with me at the moment is caused by sexual abuse allegations towards my sons father .....
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