ALIMONY TRUST
An alimony trust is a kind of legal arrangement that transfers a property, as a source of support, to a former spouse after a separation or divorce. The spouse that will make the payment will transfer other assets and investments that will generate income into an alimony trust for the beneficiary or recipient spouse. An alimony deduction in the income from an alimony trust cannot be claimed by the payor spouse. On the other hand, recipient spouse will have to pay taxes on the income but not on the principal.
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Original Cost
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