millebobby
1 post
Nov 17, 2024
8:43 PM
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Alimony, or spousal support, is financial assistance provided by one spouse to the other during or after divorce. It can be temporary, permanent, rehabilitation, or durational. Factors considered include marriage length, income, age, standard of living, child custody, household contributions, education, and fault. New York Divorce Law Alimony is calculated using a formula of 30% of higher-earning spouse's income and 20% of lower-earning spouse's income. It can be modified due to income changes, circumstances, remarriage, or cohabitation. Alimony is tax-deductible for the payer and taxable for the recipient.
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