Finances are always a top priority for Texas married couples who decide to go their separate ways. Especially in a high net worth divorce, and particularly for those who have children, numerous issues must be resolved in order to achieve a fair settlement. In this state however, issues such as spousal support are not merely a “given,” and should not automatically be expected in a divorce.
Eligibility requirements for spousal support in Texas
Texas is a community property jurisdiction, meaning that marital property is typically divided 50/50 in a divorce. If a spouse intends to request spousal support, he or she must first meet eligibility requirements. Such requirements include various possible issues, such as the marriage lasting at least 10 years, having a disability or caring for a disabled child.
The judge overseeing a divorce will determine if the person who has requested spousal support meets the requirements. If so, the court will either order the paying spouse to pay $5,000 or 20% of his or her gross income, whichever is the lesser amount. It is possible that the amount paid in spousal support might be greater, if the two spouses agree to a higher amount and sign a contract.
Tax implications for spousal support in a divorce
In recent years, the tax codes regarding alimony have changed. It is important to seek clarification on such issues before heading to court. A spouse who expects to pay spousal maintenance or a concerned spouse who is unsure whether he or she qualifies for spousal support may wish to schedule a consultation with an experienced family law attorney to discuss the topic.
