Legal Question in Family Law in Massachusetts
Alimony Child Support Question
I have been married for 19 years. Found out my husband was gay and I am divorcing. We have 2 children 15 and 17. My husband's base salary is $350K plus bonuses as well as consulting feels and board seats. Last year his income was $660K. I am a bit confused over child support and alimony.
We are going through mediation although I plan on having a separate attorney read the document before I sign.
Here are my questions:
Am I entitled to 33% of his gross income? I had heard that 33% was standard but the mediator/ attorney stated 30%.
Are child support and alimony two different payments or grouped together under the agreed percentage and then a certain amount is designated as child support (non taxable) and alimony (taxable to me)?
Once child support ends does the percent of his income I receive automatically become all alimony?
1 Answer from Attorneys
Re: Alimony Child Support Question
First givrn the amount of money involved you should contact an attorney immediately.
Apart from Alimony, there is child support, college education, property devision, etc.
There are more issues involved. Remember Alimony is a deduction to him and income to you and taxable as opposed to child support.
You also have to be aware of other income issues such as cash flow, retirement benefits etc. however, the % of income will be impacted by the amount of child support. And child support ends when your children cease being full time college students.
All of this will go into determining a fair settlement. I would be happy to meet with you without obligation to give you more precise description of your options as this process goes forward.