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Alimony payments cover a spouse’s needs, while child support payments cover a child’s needs.1 Divorced parents with child custody may receive both spousal and child support. Alimony and remarriage Some alimony agreements have a remarriage stop built into them that state if the lower-earning ...
Some items are not included in bankruptcy proceedings. You will still have to pay these debts even once you after you declare bankruptcy. The rules vary, depending on the state and country. Exemptions usually include child and spousal support orders, student loans, court ordered victim payments,...
Supplemental spousal liability (SSL) is the exception to the rule regarding liability coverage potentially applying to a passenger in the at-fault driver’s vehicle.New York car insurance lawsrecently required all insurers to include SSL coverage on all private passenger auto policies. SSL can pay ...
You can look to last year’s tax returns for a good pulse on this. You should also be sure to include any supplemental income you might get, like child support, tips, commissions, and spousal support. In the event these cause your income to fluctuate, you can add up a few months of...
losses on their end. For instance, a lender with a lien on a property you’re trying to keep in bankruptcy can file a motion for relief from the stay. This lets them initiate foreclosure if they prove you aren’t current on payments and there’s little to no equity to cover the debt...
Divorce lawyer:If you'regetting divorced, looking into spousal support, or calculating child support, you'll want a lawyer specializing in family law. Disability lawyer:If you have a disability and need accommodations or government benefits, talk to a disability lawyer. ...
trust, meanwhile, is an agreement in which a divorced person agrees to pay spousal support via a trust’s generated income. With regard to taxation, the ex-spouse responsible for providing payments is not required to pay income taxes on the trust’s income nor qualifies to receive atax ...
Involuntary wage deductions, known aswage garnishments, require a court order and are most likely to be employed to collect spousal and child support payments that have been ordered by a court. Wage garnishments may also be used to collect unpaid court fines or student loans that have been de...
The term "accumulated income payments (AIPs)" refers to funds withdrawn from a Canadian Registered Education Savings Plan (RESP) if the beneficiary decides not to attend college. In this case, thereturnsgenerated in the RESP aren't forfeited as long as the subscriber fulfills certain criteria.1...