Following a divorce, certain couples may be required to deal with the topic of alimony payments.
Alimony is a support system that financially helps the spouse of lesser or no income after a divorce. For example, if a couple were to divorce and one was disabled and incapable of working, then the other spouse would likely be required to still contribute for their medical bills, etc. Many factors are taken into account when addressing alimony payments and the quantity; however it is up to the judge to determine the needs of those involved in the case.
Whether you are the recipient of the alimony payments or you are the one required to make the monthly installments of fees, keeping your documents is vital to protect you from being held accountable for something you did not do. Another reason keeping your documents are so crucial is because if you are the one making monthly or annual alimony payments, these are in most cases tax deductible. The IRS may look into your claim, however, so it is important to have the documents ready to prove your legitimacy.
The documents you will want to keep include proof of every time you made your alimony payment—when it was made, who it was made to, the check number, address, etc. Also, for your own record, make sure that your safely store away the carbon copies of the alimony checks you make for each payment. Also, if you ever make an alimony payment with cash (though this is not encouraged) make sure you have some form of receipt to keep track of it. Remember, proper documentation of your payments may result in some government repayment with your taxes at the end of the year, so it is worth it!
If you are concerned with anything regarding a divorce or alimony payments, contact the Meyers Law Group for a trusted Long Island divorce attorney, today!