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Many people have misconceptions about alimony. Often, the parties can choose to include the payment of alimony in the divorce settlement or opt out of permanent alimony altogether. However, the court can order the payment of alimony on a temporary or permanent basis.
At Pickett Law Firm, P.L.L.C., we understand the legal, financial and taxation aspects of this subject. We help our clients make the right decisions about alimony and then work diligently to achieve their objectives.
For more information about alimony as it relates to your situation, contact our firm.
Alimony and the Law
Alimony is sometimes referred to as spousal support or spousal maintenance. In Florida, there are four types of alimony:
- Temporary alimony — Court ordered support that may be awarded from the time of separation until the final judgment of the divorce.
- Permanent alimony — Financial support that usually continues until remarriage of the recipient spouse or death of either spouse.
- Rehabilitative alimony — Short-term support intended to help a former spouse obtain the education or skills needed to earn a living and become self-sufficient.
- Bridge-to-gap alimony — Typically awarded in cases to fulfill a specific and limited purpose of "bridging" short term financial difficulties of one spouse as a result of the transition from married to single life.
Legal, Financial and Tax Considerations
Alimony is tax-deductible to the payer and treated as taxable income for the receiver. On the other hand, property received as part of an equitable distribution of marital property is not taxable. It can make sense then, to negotiate an outcome which excludes the payment alimony in favor of a particular property settlement.
In addition to being a lawyer, our founding attorney, Lee Pickett, has a Masters Degree in Finance and more than 10 years experience in the business and financial realms of corporate America. He understands many of the financial factors which affect alimony and can recommend the right solution for you. Whatever you decide, our firm will work to put you in the strongest financial position possible.
Free Consultation with a Jacksonville Lawyer
For a free consultation with Pickett Law Firm, call 877-731-9066 toll free or contact us online.
