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In order for a court to make a finding regarding alimony and determine the respective needs and abilities of both parties, the court considers eight factors. These factors are generally referred to as the alimony factors:
- Standard of Living
- Duration of the Marriage
- Physical and Emotional Condition of the Parties
- Financial Resources of Each Party
- Time Needed to Obtain Employment
- Contribution to the Marriage
- Financial Condition of the Parties
- All Other Relevant Factors
In addition to the eight factors, the court will also consider the parties’ conduct toward each other, including adultery.
Alimony Factors in Detail
Adultery & Alimony
Tax Effect of Alimony
Alimony Recapture Rule
If you are currently paying alimony and your alimony payments decrease or end during the first three calendar years of payment, you may be subject to the recapture rule. Therefore, if you are in that third year, you will have to include as income part of the alimony payments that you have previously deducted in prior years. Similarly, your former spouse can deduct a portion of those alimony payments that were previously included as income in that third year.
Important Considerations Before Requesting Alimony
Alimony is certainly not a simple concept. With complications like tax effects and financial concerns, there are multiple questions that one should ask themself before thinking about requesting alimony. Please review the seven questions listed below and use them as a check list to make sure you are in the best position possible before requesting alimony.