Keep records if you pay or receive alimony

On Behalf of | Jun 28, 2018 | Firm News, Spousal And Child Support

Spousal support is a factor in some divorces, but not all of them. There are several things that you have to consider when you think that your case might be one of the few that does have this component.

If you find out that you will have to pay alimony or that you are going to receive it, there are some specific documents that you should keep. These can help you in the future if there is ever any question about these payments.

No matter which side of the issue you are on, you need to keep a record of the payments you receive. This can help you account for these payments. If you are paying, it can stop any doubt that you made the payment. If you are receiving the money, it enables you to keep track of when payments are made.

You should make sure that you have a copy of the order so that you can ensure that all payments are made according to it. For the paying party, this will give you the conditions that must be present in order for you to stop making payments. For the recipient, reviewing the order can help you know when the support will stop coming in.

All records regarding alimony should be kept for three years at a minimum. This ensures that you will have them if the Internal Revenue Service (IRS) needs anything in relation to your tax returns. When you are ready to destroy the documents, make sure that you do so in an appropriate manner since these documents usually contain personal information.