Transform Your Future with Top Spousal Support Experts
Financial Aspects of Spousal Support
Spousal support amounts and durations vary widely, depending on factors such as the length of the marriage, the earning capacity of both parties, and the standard of living during the marriage. In some states, formulas are used to calculate support, while in others, judges have more discretion. On average, spousal support can range from a few hundred to several thousand dollars per month1.
It's important to note that tax laws regarding alimony have changed in recent years. As of 2019, alimony payments are no longer tax-deductible for the payer, nor are they considered taxable income for the recipient2. This change can significantly impact the financial planning of both parties involved.