Many changes can arise following a Texas divorce. Stay-at-home parents may find it difficult to maintain the same quality of life following divorce. They may have been long absent from the workplace, making it challenging to renter. Many companies are reluctant to hire anyone who has been out of the work force for an extended period of time. This is where alimony comes into play. Alimony can make it so stay-at-home parents can continue to support themselves after divorce.
Both sides of alimony have their demands. For both parties, it is important to ensure that certain records are kept. For a number of reasons, especially tax purposes, this can be very important. For those paying alimony, including a document listing the dates of each payment made can prove highly prudent. What’s more, keeping carbon copies of every check written for alimony payments can help ensure all necessary documentation is available. If payments are made in cash, recipients should produce receipts that the paying spouse should keep.
Recipients have other records they should keep as well. Much like the paying spouses, this includes a list of all the dates on which payments were received, in addition to the amounts that were received. Check numbers from which payments were received, as well as the name of the bank and copies of checks and receipts are also vital records to keep.
Alimony can be challenging for everyone, especially those in a high asset divorce. Obtaining or paying alimony can prove to be difficult. Thankfully, experienced Texas attorneys are available to potentially help guide spouses on both sides of alimony through these challenges. With legal help, the best possible outcome can be fought for.
Source: FindLaw, “Alimony Guidelines: What Records to Keep Regarding Your Alimony,” Accessed on February 1, 2016