Planning Beginner: Financial Considerations in Divorce

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An advantage of alimony is that in most states the monthly amount is set for life and not subject to change.

True

False

False. In most states, alimony laws typically allow those paying alimony to modify the terms later if circumstances change.

Marital property includes assets you brought into the marriage.

True

False

False. This is separate property.

Which of the following is NOT a factor in setting alimony?

The length of the marriage

The standard of living the couple would have achieved had the marriage continued

The lost income producing capacity of either spouse

All the above are factors in setting alimony

The standard of living the couple would have achieved had the marriage continued. This is not a factor; the standard of living actually attained during the marriage is important.

Which of the following is true regarding alimony negotiations?

Online and printed self-help materials are excellent resources for those who wish to handle it themselves.

Judges generally set alimony after referring to state guidelines and allow little or no departure through the parties' negotiations

Alimony is tax-free to the recipient

None of the above are true

None of the above are true. The opposite of each statement is true.

When setting child support payments, the court has complete discretion under the law.

True

False

False. The court must refer to child support guidelines provided by law.