Logue v. Comm’r, T.C. Memo. 2017‑234, 2017 WL 5713945 (2017) (a) Facts: The parties entered into a premarital agreement. The agreement provided, among other things, that the wife would receive, upon divorce, a lump sum of $100,000, plus $10,000 for each year the parties were married. The parties married…
Davidson v. Comm’r, T.C. Memo. 2018-38, 2018 WL 1611811 (2018) (a) Facts: The parties were divorced by an Arkansas court, and the divorce decree divided the parties’ debt. Within a few days after the decree was entered the judge sent the parties a letter, which stated: When I made…
As has been widely reported, Congress has repealed I.R.C. §§ 71 and 215, thereby eliminating the federal tax reduction for alimony. In addition, Congress has repealed former I.R.C. § 61(a)(8), which expressly defined alimony as taxable income. In tax years governed by the new law, alimony will be taxable income…
Alimony is also known as spousal support and it refers to payments made by one spouse to support the other after separation or divorce. The payments may be lump sum payments or ongoing payments. Generally, post-separation alimony lasts until the divorce is concluded. However, a court may also award alimony…
Often people assume that if alimony is awarded, a husband will have to pay it to his ex-wife. However, based on consideration of certain statutory factors, alimony can also be awarded to an ex-husband and a wife may be required to pay it. In a recent North Carolina alimony appellate…
Dear Carolyn, I have received spousal alimony since a 2003 court order until death. I would like to get an increase because of the economy. My ex-spouse receives three times my social security and retirement. His home is paid for and he owes three motor vehicles. His social security and…
Dear Carolyn, I work and make a good income. During our marriage, my wife worked for a while, but stopped when we had children. She has and maintains a CPA license. We have a 15-year-old with some discipline problems and ADHD. We are divorcing, and I think she should go…
Dear Carolyn, My ex is receiving alimony, which I obviously do not want to pay. She has a son, by another marriage, who is a heroin addict. My ex-wife began dating shortly after our divorce, and she seems quite entrenched with this guy. He stays over at my ex’s on…
Dear Carolyn, My wife had an affair, and because I wanted to save the marriage for the children, I forgave her. That was about ten years ago. Now, it is really not working, and I want out. The last child has finished high school. She spends too much money and…
Dear Carolyn, I am thinking about separating from my wife of 10 years. She is a doctor and makes a lot more money than me. I am a school teacher and make extra money coaching, but she still makes a lot more than me. Neither of us are having an…