Will Cash Gifts Affect Alimony In Florida?
People have been giving each other cash gifts for hundreds of years. People may receive cash gifts for a number of reasons, including weddings, graduations, birthdays, anniversaries, and many others. In addition, some people use cash gifts for tax avoidance. But how might cash gifts affect alimony in Florida? There might be a greater connection than you realize, and it’s important to keep this in mind if you’re trying to figure out your own alimony situation in Florida.
Cash Gifts to Illicit Partners
If you committed adultery during the marriage, there’s a chance that you provided your illicit partner with cash gifts. Perhaps you wanted to support the other individual financially. Maybe you wanted them to “treat themselves” to a gift of their choosing. Perhaps you wanted to pay them in exchange for keeping quiet about the affair. Whatever the case may be, it’s important to realize that these payments may be considered a form of marital misconduct – specifically financial misconduct.
If your spouse can expose the extent of these gifts, they may negatively affect your alimony situation. Assuming that you are the “paying spouse,” you may need to pay more in alimony than normal due to these past gifts. The court may consider this to be a dissipation of assets, which means that you violated your fiduciary duty to your spouse. In other words, you wasted money that could (or should) have gone towards the family.
Is a Cash Gift Considered Income?
But what happens if you’re the “receiving” spouse when it comes to alimony? Could cash gifts still affect your alimony payments? In most cases, cash gifts are not considered “income.” This is an important distinction, because it means that the court will not take these gifts into account when calculating the amount of alimony you should receive. For example, you might have received a cash gift from your parents after they sold their house. Or perhaps your adult child provided you with a cash gift after a successful investment.
But this only goes so far. The court typically reserves the right to use their own discretion on a case-by-case basis. If it is extremely obvious that you are using cash gifts as a strategy to circumvent the normal calculation process, then the courts may decide that these gifts should be taken into account. At the end of the day, the only way to approach this situation is to receive personalized guidance based on your unique situation.
Where Can I Find a Qualified Divorce Attorney in Florida?
If you’ve been searching for a qualified, experienced Orlando divorce attorney, look no further than Steve Marsee, P.A. We know that alimony can be a little difficult to figure out – especially if there are cash gifts and other oddities to keep in mind. The good news is that once you book a consultation with us, you can rely on our experience and resources to ensure a positive result. Reach out today to get started with a solid action plan.