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Will a divorce derail early retirement?

Many people are working well into their senior years these days, whether out of necessity or because they enjoy what they do. Others who have worked hard, lived frugally and saved and invested wisely prefer to retire years before they're eligible for Medicare and Social Security. They may want to travel the world, spend time with their grandkids or start a second act building sailboats or showing their prized tulips.

Reporting alimony on your tax return

If you are paying or receiving alimony for the first time this year, be prepared for your return to get a little bit of extra scrutiny from the Internal Revenue Service. That's because, in recent years, the IRS has found a number of inconsistencies between what those receiving alimony report and what their exes list.

How alimony awards are determined

When it comes to alimony, it serves the purpose of ensuring that no one party to a divorce enjoys a significant economic windfall. Alimony may be awarded in a particular case in which it can be shown that the non-wage or lower-wage-earning spouse made a choice to stay home and care for the family while his or her spouse primarily contributed all financial support.

Might a lump-sum alimony payment be in your future?

If you are going through a divorce, the issue of alimony may be raised. Will you have to pay or will you be on the receiving end? While spousal support payments are determined by various factors, including but not limited to the incomes of both parties, there are also other points to consider.

How long can you collect alimony in Massachusetts?

Only a few decades ago, spousal support was referred to as "alimony" and was awarded to the wife in almost every divorce in Massachusetts. Times have changed, and alimony reforms have made some sweeping changes in the way that family court judges view alimony awards.

Is your spouse stepping out on you?

If you are getting a sneaking suspicion that your spouse is cheating on you, your instincts could be on target. But there are also legitimate reasons why a husband or wife may be acting differently, so it is vital that you are certain before taking action.

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