How is Alimony Calculated?
February 24, 2014 1 Comment
Though there is no fixed formula for calculating the alimony payable after divorce, the following points determine the quantum:-
Even if the wife is earning, the court will take into account the husband’s financial status. If his income is very high, the wife will be given some alimony.
If wife is not earning,the court will consider the reasonable needs of the person. The alimony will be fixed to allow her a standard of living equal to that of her husband.
Alimony is for the upkeep of the divorced spouse. As soon as she remarries, the man may stop paying. However, he may still have to pay for the upkeep of the child.
In the rare case of the husband not earning due to a disability while the wife has an income, the man can be awarded alimony by the court.
If there is a child ,the court will award the expenses incurred for the child’s maintenance, including food, clothing and education, befitting the standard of the family.
Any property bought during the tenure of the marriage is owned 50% by the wife. This does not include inherited or previously purchased property,as the law stands today.
In Greek mythology, Sisyphus was condemned to carry a boulder up a mountain. Every time he approached the top, the boulder would topple over and fall down. Sisyphus’ curse was to keep doing this for all eternity. His crime: being too intelligent by half. From this story comes the term Sisyphean Task.
“Every CEO’s trying to figure out What’s Up when FB pays $19 billion for WhatsApp. It redefines the meaning of, and method of, value creation.”- Anand Mahindra, chairman & MD of the $16.2-billion Mahindra Group
Suppose a person who owns a house, acquired out of his/her own earnings and wants to leave it to one or more of his/her children after the death of themselves and their spouse,to the exclusion of other children, he /she has the option of executing a will or making a settlement retaining life interest. The execution of a will has its own hassles in identifying a reliable person to be the executor and involves expenses too. The will might also have to be probated , the probate of a will is mandatory for the properties situated at Chennai, Mumbai and Kolkatta,for which court fee is to be paid.
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