Alimony Payment

Categories: Tax, Trusts and Estates

If you've ever been divorced, you won't need this one defined. In fact, it's probably a bit PTSD triggering. You might want to just move on to the next one (See: All Risks Coverage).

For those of you who believe in romantic love and the possibility for long-term happiness entwined with a soul mate, here's something we hope you'll never have to deal with. An alimony payment is an amount of money that one part of a former couple pays the other after a divorce. At the divorce settlement, the amount of alimony is one of the items that needs to be hammered out, along with who gets the fine china and who has to take the kids.

Typically, one former spouse pays the other a predetermined alimony amount each month for a set period of time. Then they go to Tinder, Match, JDate, and whatever that new thing is that Facebook just set up. And they join a gym.

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Finance: What is a partnership?23 Views

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finance a la shmoop. what is a partnership? a marriage. joint ownership

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of a bar. when two dudes put up half the dough each to share 50/50 in a time [two different people offer money for keys]

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machine. well a partnership is just the merging

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of two individuals in doing a given business deal or setting up a business

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structure. if both are owners then both are liable for you know bad things

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should they happen. partnerships carry a lot of financial danger if one partner

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goes off the rails and decides to commit fraud in the name of the company or that

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evil partner enters into a stupid company bankrupting contract, well then [bad contract sold to unsuspecting victim]

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both parties pay for it. the innocent partner pays just as much in the form of

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whatever financial damages befall the partnership as the evil one, and

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partnership liabilities include personal assets if the partnership is structured

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like a general partnership with limited partners having no personal liability so [ liability structures defined]

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for all the good that a partnership can have it can get bad and ugly so you got

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to enter partnerships carefully. spend lots of dough on lawyers before you set

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it up so you don't have to after. [money exchanged for partnership contract ]

Find other enlightening terms in Shmoop Finance Genius Bar(f)