Alimony, also referred to as spousal maintenance in the state of XYZ, is a court order for one party to provide financial support to a spouse who earns little or no income. Not all divorce decrees include alimony, but it provides a means to ensure fair economic circumstances for the lower-earning spouse at the time of divorce.
XYZ recently implemented a formula for determining spousal maintenance, which standardizes the process of planning for ongoing support. This guideline and formula apply to couples with an annual gross income below $240,000 and a marriage duration between three and 20 years. However, various factors can also influence the calculation. Recent legislation has altered the tax treatment of alimony, impacting the amount considered in court proceedings. Many legal professionals specializing in family and divorce law can assist in the establishment of a maintenance agreement.
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