Adjustable Alimony, Bankruptcy and Victoria Gotti
Tuesday/January15/08
Odds and ends on alimony.
The Poynteronline reminds us that
the Consumer Price Index (CPI) can be used to
adjust alimony. And a story in Oklahoma's
Journal Record reminds us: "Under federal law,
debts owed former spouses for alimony,
maintenance or support are not dischargeable."
In other words, filing for bankruptcy won't get
you out of your alimony obligation. 11 U.S.C. ยง 523(a)(5). It
won't get you out of much of anything with
respect to a former marriage: In 2005, Congress
amended the bankruptcy law to make and "domestic
support obligation" nondischargeable.
In New York, Victoria Gotti - the mobster's ex-wife - didn't do so badly: "Victoria Gotti's ex-husband got 10 years for racketeering, she got the Long Island mansion and $25,000 a month." But only half of that is alimony - $12,500 per month - the rest being child support.
In New York, Victoria Gotti - the mobster's ex-wife - didn't do so badly: "Victoria Gotti's ex-husband got 10 years for racketeering, she got the Long Island mansion and $25,000 a month." But only half of that is alimony - $12,500 per month - the rest being child support.