With Strength And Compassion
Aside from custody issues, one of the most contested matters in a divorce proceeding is property division. As part of determining which party will be granted ownership of certain assets, courts often take into account whether one spouse will be required to provide the other spouse with periodic maintenance payments. Determining whether a spousal support award is appropriate can be…
When it first took effect in very limited form in 1997, conventional wisdom held that the spousal support law would be gradually expanded until Texas joined the majority of the other states which, at the time, routinely included alimony payments in their high-asset divorce decrees. In many cases, these payments were designed to permanently equalize the standard of living between…
The amount of duration of spousal support payments in a high asset divorce is a matter of both science and art because the relevant provisions in the Texas Family Code contain both a mechanical formula based on the length of the marriage and a guide for the evaluation of case-specific financial and familial data. This combination is a response to…
While many states are restricting their alimony laws under tremendous pressure from advocacy groups, Texas has expanded its spousal support laws in recent years, albeit not by much. As a result, spousal support is still rather difficult to obtain. In other states, alimony is an important element of almost every property settlement in a high-asset divorce, but that is simply…
The Internal Revenue Service recently released supplemental guidelines regarding spousal support payments and income tax consequences. These payments are tax-deductible, but the IRS will scrutinize the deduction to ensure that the tax return meets certain qualifications. An obligor spouse must make payments in cash or cash equivalent directly to the obligee spouse; these payments are specifically designated as “maintenance” in…
To promote a more effective property division in a high asset divorce, Texas courts recognize and enforce two different types of spousal support. Statutory Maintenance The Legislature enacted Section 8 of the Family Code about twenty years ago, with the apparent intent to expand the law over time. But that no longer seems to be the case, as the edict…
Alimony payments are part of the final settlement in many complex divorces. A recent study by the IRS has uncovered major discrepancies between alimony deductions and alimony payments on 2010 federal tax returns. According to IRS rules, alimony that is paid to someone under a high asset legal separation or divorce agreement can be used as a deduction from a person’s income…
Many factors contribute to determining spousal support in Texas. These support payments may also alter other parts of the divorce agreement, such as property distribution. If an agreement on this issue is unable to be reached between spouses in Texas, the District Court will order the spousal support considering many factors before making a final decision. The court must decide…