Alimony, also called spousal support or maintenance is a payment that one spouse has to make to the other after getting a divorce. In most marital arrangements, one partner earns less than the other or is dependent on the other entirely for financial resources.
If a couple chooses to get a divorce, the dependent partner without their (former) partner’s financial assistance, will have to face major financial crisis or lifestyle degradation. To prevent this from happening, state laws have made a provision for the financially dependent partners, called alimony.
Financially dependent partner is entitled to receive support from their former partner either till they get back on their feet and become independent, or in some cases, forever.
Learn more about spousal support and alimony in this section.
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By David Fenton
Public accounts, Certified Public Accountant| 4 min read
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