People planning to file for divorce may be particularly concerned about the financial impact of the end of their marriage. This can be especially true for couples with a high-asset divorce and significant income, as spousal support and alimony may be a factor in the...
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Alimony
The ramifications of tax reform on alimony
If an individual signs a divorce agreement or similar document after 2018, he or she may not get a tax deduction on alimony payments. That may have a significant impact on divorce agreements in California and throughout the country. For the past 75 years, alimony...
Alimony deduction may be on the chopping block
One part of the proposed tax reform legislation that may impact some people in California is the proposal to do away with the alimony deduction. Under this proposal, people who are ordered to pay alimony to their ex-spouses would no longer be able to claim their...
David Hasselhoff moves to stop spousal support to ex-wife
On Sept. 18, actor David Hasselhoff reportedly asked a California judge to end the alimony payments he was required to make to his ex-wife. He had reportedly been making monthly payments of $21,000 to his ex-wife from 2006 to 2016 when those payments were cut down to...
Alimony, child support and taxes
Alimony and child support payments are parts of many California divorce decrees, and they may represent significant ongoing expenses. To help reduce the overall costs, alimony payments can be considered tax deductible, but child support payments are not. It is...
Alimony impacts ability to get mortgage in California
When a person is considering purchasing a new home, they might not be aware that receiving or paying alimony can impact their ability to get a mortgage. Lenders have to look at a person's whole financial history before making a decision on whether to award the...
Alimony can be ongoing or paid in a lump sum
When a California couple goes through a divorce, the lower-earning spouse may request alimony as part of the court order. Alimony is often awarded to a person who earns no income or a much smaller one than the other spouse. In many cases, spouses who request alimony...
The possibility of paying alimony in a lump sum
After a divorce, many California couples are confronted with the requirement that one spouse pay alimony to the other. This can be an ongoing issue both financially and personally. Those who pay or are receiving their alimony on a monthly basis need to know that they...
Court orders Morena Baccarin to pay support
California television fans might be interested to find out that Morena Baccarin, who is an actress in the "Gotham" series, was recently ordered to pay her estranged husband a total of $23,042 per month in child and spousal support. The couple are in the middle of a...
When is California alimony necessary?
When many Californians divorce, alimony payments are ordered in their cases. Judges determine whether or not to order alimony in particular cases based on the circumstances of the spouses and their marriages. Some of the factors judges consider include the standard of...