Law Offices of Mark Abzug, PA
Protect Your Rights. Get Answers. Call Today. 954-753-1003
2801 University Drive Suite 203
Coral Springs, FL 33065

Alimony Archives

Paying alimony in Florida may have a potential tax break

Getting divorced in Ft. Lauderdale can be stressful, but there might be one silver lining available for the payer of a spousal support award. Alimony payments may be deductible on federal income tax filings if specific requirements are met.

Trust fund distributions are fair game for garnishment by ex

Well-meaning parents wanting to ensure passage of adult children's inheritances into trusts often wish to keep the intended beneficiary's former spouse from asserting any claim to trust funds in case of divorce and possible alimony. In states such as Pennsylvania, this may not be the case. Article 5 of the Uniform Trust Code, UTC, shields assets held by discretionary or spendthrift trusts from creditor claims but does not disturb the legal rights of children and former spouses of primary beneficiaries to entrusted assets.

Changes to alimony law are being considered

Florida residents who have been stuck with lifetime alimony may be seeing some relief in the future. There has been a move away from lifetime spousal support due to the burden it places on the person responsible for paying. Alimony itself is not under fire so much as the issues it creates for individuals who are saddled with payments for the rest of their lives regardless of their financial situation.

Alimony reformers to try again in 2014

Florida's governor vetoed this year's attempt to change alimony laws in the state, but another push to eliminate lifetime alimony and the way that it's awarded is expected to begin again in 2014. The issue of alimony is a hotly contested one, and many people feel that lifetime spousal support is an unfair burden for those who have to pay it. According to some of those who support changing alimony laws, courts often refuse to make changes to alimony requirements, forcing individuals into bankruptcy and insolvency.

States contemplating alimony reform

Florida couples contemplating getting a divorce might be interested to learn that some states are contemplating changing their alimony laws. Alimony comes into play when one spouse is ordered to make payments to the other spouse after they are divorced. Traditionally, when a spouse was ordered by the court to make payments to his or her ex, those payments lasted for the rest of his or her life. Some states are debating whether or not to change alimony laws to where lifetime alimony would be abandoned in favor of alimony calculated with special formulas that would determine how much alimony a spouse would have to pay and for how long.

Divorcees may face surprises during tax time

Many Florida divorcees may forget to consider the tax consequences of their divorces. There are many things that recent divorcees may not consider when filing their taxes, such as alimony. The divorced couple should discuss who will be claiming the children on their taxes because this can make a significant difference in overall tax liability. Many divorcees may also want to consult a professional tax service to make sure that they are doing their taxes properly, particularly in the first year after their divorce.

Push for alimony changes continues

Those in Florida who are attempting to change alimony laws faced a setback with the vetoing of a proposed law by the governor, but they have not given up the fight to change how spousal support is handled in the state. Alimony tends to be a point of contention during divorce because few people want to pay their ex after it has gone through. Still, there are very valid reasons why alimony was developed.

Florida alimony laws may be changing

Proponents of changing alimony laws in Florida are getting closer to reaching that goal. The alimony reform bill has passed two House committees and a committee in the Senate in the state capitol, indicating that the bill is getting closer to becoming law. The implications of passing the bill are significant as existing alimony settlements may be reworked. The current laws in Florida allow alimony in certain circumstances. The court weighs several factors before awarding alimony, including the length of the marriage, level of education and earning power of each spouse. Current laws allow for a permanent award for alimony. The proposed bill would set stricter guidelines and end permanent alimony. The representative who is backing the bill believes that it is time to change the alimony structure because the family structure has changed over time. Opponents to the bill believe that the changes would prevent parents from staying home to raise their kids.

Advocates hope for Florida alimony reform

Advocates for Florida alimony reform are hoping to reintroduce a bill that would modify Florida's existing alimony laws. Advocates claim to have some sponsors in the legislature who will attempt to accomplish this goal; the bill was originally considered last year, but it languished in the Senate.The sponsors include Rep. Ritch Workman and Sen. Kelli Stargel. Workman has issued a press release in which he states that the bill seeks to clarify the law and to ensure that it is fair to all parties. Advocates are hoping to make several changes to existing alimony laws, including removing the existence of permanent alimony and establishing retirement for individuals who pay alimony at the age for federal retirement as well as for individuals of the standard retirement age in professions that are categorized as high risk.