Types of Alimony
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Types of Alimony
According to alimony laws, there are several types of alimony that may be awarded by a court to the recipient party. Alimony may be awarded on a permanent basis to the party with a large disparity of income. This type of alimony is usually payable for the remainder of the recipient's life, barring remarriage or co-habitiation, until the party's death. Another type of alimony is temporary, which is designed to help the recipient get on their feet, so to speak. This type of maintenance usually lasts one to two years. Another type of spousal support is a lump sum. This is obviously paid all at once which might affect the tax status of the recipient because again, alimony is taxable as well as tax deductible. The last type of alimony is rehabilitative support. This type of alimony is designed to aid a spouse that may be younger and eventually able to return to the work force. There may be a provision for continuing education for the recipient to aid in that effort. Again, no matter how alimony or spousal support is paid, it is all taxable for the recipient and tax deductible for the one ordered to pay it.
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