Right now it appears that the new Alimony Bill maybe passed. It was by the House and the Senate has it next week. Some of the potential issues are: one that long term marriages will end at retirement age is defined by the Social Security Act. Second, maximum alimony is 50% of the number of years of the marriage. If it was 5 years or less, it is 50% of the number of months of the marriage. If it is 10 years or less, the greater than 5 years the maximum alimony is 60% of the number of months of that marriage. A 15 year marriage is or less, but greater than 10 years, the maximum alimony term is 70% number of months of that marriage. 20 years or less, but greater than 15, the maximum alimony term is 80% of the number of months of that marriage.
Some other issues are the second wife or husband’s income and assets are excluded. Cohabitation suspends, reduces or terminates alimony. Child support the gross income is excluded from alimony. Child support is limited, meaning that it would not generally exceed the recipients need or 35% of the difference between the parties gross incomes. If someone has a second job or overtime, that generally is presumed to be not included in alimony. Any pay in health insurance or life insurance it reduces alimony’s payments and alimony terms extensions are limited and require clear and convincing evidence. Lastly, that alimony ends at the remarriage of the alimony recipient. There are other pieces of the Bill as well, but those are the some of the more notable ones.