What You Should Know About Alimony in Nevada - Part IV

For the last three posts, I've been talking about how alimony is defined in the state of Nevada, what kind of things the court considers when making awards, and what form those awards may take. In this last segment, I will talk about some precautions you should know about alimony payments: First, payment of any periodic or rehabilitative alimony award can be modified upon a showing of changed circumstances. In the state of Nevada, this is defined as a change of 20 percent or more in the gross monthly income of a spouse who is ordered to pay alimony. Second, except in unusually cases, alimony automatically ends upon the death of either party. Additionally, alimony payments also typically end if the receiving spouse gets remarried. Finally, unlike child support payments, alimony is taxable income to the receiving spouse, it is tax deductible to the payor. If you are the recipient of an alimony award, you need to immediately seek the advice of your accountant or financial adviser to make sure you are putting aside enough money to pay the taxes that will attach to your award.

Comments

[jonathan]

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