Legal Question in Family Law in Massachusetts
Hi! I'm in Massachusetts. My husband is offering 30% alimony (about $1000 dollars a week). Is this taxable? If it is, how much is tax and how much will I actually get. I have two children, 14 and 21 years old. On top of this alimony, do I get child support? And if so, is it for one child or both (elder one is in college full time).
2 Answers from Attorneys
Alimony is taxable taxable to you and deductible to your husband at your respective tax rates based on your incomes. You are highly unlikely to get a significant amount of child support on top of a 30% alimony payment. So the primary question is whether this current financial arrangement is in your best interest. That depends on how much you would be getting in child support versus alimony at this time. If the 21 year old is still dependent on you, you're eligible for support for that child (young adult). Also, unlike alimony, child support would be tax-free. Whether 30% of alimony is a fair amount depends on your financial needs (bills, financial obligations, etc). You should strongly consider having an attorney look at all the numbers to help you develop a plan. You could potentially leave a lot of money on the table if you don't get this right.
Mr Faris' comments are correct. There is a formula used today. Alimony if you have been married for more than 29 years is permanent until your ex retires.
Child support is paid until a child is 25 so long as the child is a full-time student. So until the college student graduates and is full time your husband is responsible for child support. if you do not have an attorney. you should get one.