Are you going through a divorce in South Carolina?
Have you been divorced in South Carolina?
If you said yes to either of these questions, you’ll have considered the possibility of alimony.
If you were providing financial support during the marriage, you might have to continue to do so.
In this post, we will explain how alimony in SC works.
All About Alimony in SC
Confused about all the legal jargon and complications surrounding alimony? Read our quick, handy guide.
How Much is it?
There is no definitive formula for calculating how much alimony should be.
The amount is decided by a judge and is dependent on several factors. These can include the length of your marriage, the earning ability of each spouse, assets, health conditions, and who was at fault for the divorce.
When is Alimony Paid?
The typical alimony payment occurs on an ongoing monthly basis. However, it may also be paid in a lump sum, or in other installments.
In some cases, rehabilitative alimony is paid for a certain period of time. This alimony structure is often prescribed in cases where a spouse needs to gain skills or education in order to increase their earning potential.
Once the necessary courses or training programs required in the rehabilitative alimony decision have been completed, this kind of alimony stops.
Who Pays Alimony?
Alimony is paid to the spouse who was supported financially during the marriage. It’s usually received by the spouse who has child custody, especially if they are not expected to work full-time.
Most commonly, women are the recipients. Only 3% of people who receive alimony are men.
Marital misconduct can affect the outcome of a case. For example, if a spouse commits adultery, they’re not eligible to receive alimony under South Carolina law.
How Long is Alimony Paid for?
Alimony is usually paid until a spouse remarries or cohabits with a new partner for 90 days or more. In some cases, a spouse can receive alimony for the rest of their life.
Is Alimony Fixed?
Alimony agreements are not set in stone.
There are certain situations which are causes for alimony modification. For example, if the provider’s financial situation changes for the worse, they can request for the amount to be decreased. Likewise, the recipient can request an increase if they find themselves in financial difficulty.
If a judge decides that alimony is no longer necessary, it can also be stopped altogether.
Changes can be permanent or temporary. Either way, they need to be approved by a judge.
Is Alimony Taxed?
Those who receive alimony must pay tax on it, and include it in their income when filing their taxes.
Alimony is tax deductible for providers. However, this is due to change for divorces finalized after December 31, 2018.
Read the IRS guidelines for alimony for more details on tax and alimony.
Ask the Experts
When you are going through a divorce, it is essential that you have an attorney on your side.
At Indigo Family Law, we are experts in alimony in SC. We will guide you through the legal process, advise you on the best course of action, and fight for your rights in the courtroom to make sure you get the best possible outcome.
To see how we can help you, contact us for a consultation.