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Question: What is the difference between a "settlement" and "alimony"? Is it still a 'settlement' and not alimony if my ex-husband is paying me monthly?

I think you're asking about the difference between alimony and the division of marital assets (what you're calling the settlement). Your share of the marital assets can be paid out in lump sum or monthly if that's what you and your husband decided to do. Once enough time has passed for you to attain everything you're owed in the division of marital assets, those "settlement" payments will stop.

Entirely distinct is alimony (sometimes called maintenance). These are monthly payments intended to help a spouse live at a similar standard of living to what she/he lived at during marriage. Alimony is more prevalent in long-term marriages with children (over 20 years) than in short-term marriages. Alimony can be granted for a period of time, say 5 years, or for one's entire life. Usually, alimony ends when the receiving spouse gets remarried or cohabitates with someone.

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  • Comment Link Guest Saturday, 08 June 2013 11:35 posted by Guest

    Importantly, one must also consider the tax ramifications. Alimony are taxable events because they are considered income. Idonot believe settlement payments would be taxablesince they are disbursements of propertyyou technically own?