How Spousal Support Works: Amount, Duration, and Tax Issues
Facilitator: Tanoya Greaves, The Divorce School
In order to meet cash flow needs, there are three sources of money that may be available to you as a result of your divorce: spousal support, child support, and marital property. This session offers a general overview of how spousal support is supposed to work – including the factors influencing amount and duration of spousal support payable or receivable, and the tax issues of spousal support. More
Diana Shepherd is the Editorial Director and co-founder of Divorce Magazine and www.DivorceMagazine.com. She is a Certified Divorce Financial Analyst®, an award-winning editor, published author, and a nationally recognized expert on divorce, finance, remarriage, and stepfamily issues. Diana has written and edited hundreds of articles about divorce-related issues since 1996, and she is a frequent lecturer on the topics of divorce and finance – both to local groups and national organizations.
What you will learn from this short video on “How Spousal Support Works”
This session will:
- outline how spousal support generally works
- discuss how payments are calculated and how long a spouse must pay it
- explain whether or not the amount of spousal support can be changed
- help viewers understand how to protect spousal support in the cases an ex-spouse dies or becomes disabled.
You can download a simple expense worksheet at DivorceMag.com to help you create an accurate budget detailing your monthly and annual expenses and income. Make two copies of the chart, replacing or deleting items to suit your needs, then fill in pre-divorce expenses on one and post-divorce expenses on the other.
To learn more about spousal support, go to: www.divorcemag.com/alimony-spousal-support
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