There are plenty of issues that any divorcing couple needs to handle before they can finalize they divorce. One of the issues that often comes up is alimony, a critical form of compensation that is awarded in certain cases. The determination for alimony is based on numerous factors, such as the length of the marriage, the financial means of the spouses involved, and the age of the spouses, among many others.
But today we don’t want to talk about how to agree to alimony or how alimony is awarded. Instead, we want to talk about how you need to manage alimony after it has been awarded. For both the paying spouse and the receiving spouse, keeping detailed record after alimony is awarded is important.
Why is it so important? Well, if there is a dispute between the spouses over money paid via alimony and the disagreement goes to court, having detailed record of the alimony payments will be tremendously helpful and could support your case.
With that in mind, what kind of information should you record? Regardless of whether you are the paying or receiving spouse, you should track:
- The date of the payment, and the address it was sent to and from
- The bank used for the payment, including account number, check number, and the amount the payment was for
- A copy of the check if possible, and if the paying spouse uses cash then the two of you should create a receipt and sign it
Source: FindLaw, “Alimony Guidelines: What Records to Keep Regarding Your Alimony,” Accessed Dec. 6, 2017