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How Much Alimony Can Your Partner Legally Claim After A Divorce? Know Your Rights
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Knowing alimony, spousal, and child support rules in India is vital. Both parties should assess assets, liabilities, joint property, accounts, investments, and loans
Hiring a divorce lawyer to protect financial interests and a financial planner for post-divorce financial planning is recommended. (Representative/News18 Bangla)
Amid the emotional turmoil of divorce, many individuals face the added concern of alimony, which can bring significant financial implications. Courts step in to provide this support, aiming to ease the financial strain and ensure stability for the affected spouse.
In India, alimony is governed by various personal laws and the Code of Criminal Procedure, 1973 (CrPC), ensuring that financially weaker spouses can maintain a life of minimum dignity post-separation. The form of alimony can vary based on case specifics.
Types Of Alimony:
- Permanent Alimony: This is extended to spouses who require ongoing financial support post-divorce, ceasing only upon the recipient’s remarriage or death, as stipulated under Section 25 of the Hindu Marriage Act, 1955, and other personal laws.
- Temporary Alimony/Interim Maintenance: Provided during divorce proceedings, it covers legal fees, living expenses, and other related costs, according to Section 24 of the Hindu Marriage Act, 1955, and Section 125 of the CrPC.
- Rehabilitative Alimony: Offered for a limited period, it aims to help the financially weaker spouse become self-sufficient, often through education or employment opportunities.
- Reimbursement/Compensatory Alimony: This compensates a spouse who sacrificed career opportunities for family obligations. Equitable principles guide its provision.
- Lump Sum Alimony: A one-time payment that spares the recipient from monthly legal battles, allowing them to settle debts, purchase property, or fulfil other needs.
- Nominal Alimony: A minimal amount set to preserve the legal right to claim more significant support in the future, used when immediate financial need is absent but anticipated.
Alimony Under Various Personal Laws
- Hindu Law: The Hindu Marriage Act, 1955 (Sections 24 and 25) covers interim and permanent alimony.
- Muslim Law: Alimony is paid during the iddat period post-divorce as per Sharia law and the Muslim Women (Protection of Right to Divorce) Act.
- Christian Law: The Indian Divorce Act, 1869 (Sections 36 and 37) governs alimony for Christian spouses.
- Parsi Law: The Parsi Marriage and Divorce Act, 1936 provides for maintenance both during and post-divorce.
- Special Marriage Act, 1954: Applicable to inter-religious marriages, it permits maintenance under Sections 36 and 37.
Future Earning Capacity
The ability to earn in the future, even if currently unemployed, affects alimony amounts. Courts encourage self-reliance, as seen in Kalyan De Chowdhury v. Rita De Chowdhury, (2017) 14 SCC 200.
Income Disclosure And Special Needs
In a notable case, the Jharkhand High Court increased a wife’s monthly maintenance to Rs. 90,000 after RTI findings revealed the husband’s income. The court also acknowledged the special needs of the couple’s autistic child, factoring in the mother’s full-time caregiving role.
Understanding alimony, spousal support, and child support under Indian law is crucial. Both parties must evaluate their assets and liabilities, including jointly owned property, bank accounts, investments, jewellery, and vehicles, as well as joint liabilities like loans. Removing one’s name from joint loans or credit cards is advisable to avoid future liabilities.
For financially dependent individuals, budgeting for post-divorce living expenses is essential. Opening a separate bank account, updating nominees on insurance and investment portfolios, and planning finances to manage alimony payments are important steps. Alimony received in lump sums is tax-free, whereas monthly payments are taxable. Understanding capital gains tax on donated property is also necessary.
Child support for education, health, and daily expenses must be decided, considering the custodial parent’s role. Updating wills, insurance policies, bank nominations, and property documents to exclude the ex-spouse might be necessary. Ensuring all financial settlements are documented in the divorce decree is critical.
Hiring a divorce lawyer to protect financial interests and a financial planner for post-divorce financial planning is recommended. Saving and investing for long-term security, acquiring new skills, and seeking employment or business opportunities can help rebuild a financially independent life post-divorce.
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UniQure needs to run another study to prove that its gene therapy “actually helps people with Huntington’s disease,” a senior U.S. Food and Drug Administration official said on a call with reporters Thursday.
The official, who requested anonymity before discussing sensitive information, confirmed the agency has asked the company to run a placebo controlled trial of its treatment, which is administered directly into the brain. UniQure has said that type of study isn’t ethical because it would require putting people under general anesthesia for hours, a characterization the official disputed.
“So what is really going on? UniQure is the latest company to make a failed therapy for Huntington’s patients,” the official said. “They likely acknowledge or understand at some deep level that their trial failed years ago, and instead of doing the right thing and running the correct clinical study, UniQure is performing a distorted or manipulated comparison in the mind of FDA.”
The comments mark the latest development in a messy public spat between UniQure and the FDA, and as the agency comes under fire for a number of recent drug approval application rejections, including some where companies have accused it of going back on previous guidance. FDA Commissioner Marty Makary in an interview with CNBC’s Becky Quick last week seemingly criticized UniQure’s gene therapy for Huntington’s disease. Makary didn’t name UniQure but described its treatment.
UniQure then accused the FDA of reversing its stance that the company’s clinical trial data would be sufficient to seek approval. UniQure’s study used an outside database to measure how patients with Huntington’s disease might decline without treatment, known as an external control. UniQure has said it wouldn’t be feasible to run a true randomized, double-blind placebo-controlled study, considered the gold standard, because it wouldn’t be ethical to make people undergo a sham hours-long brain surgery.
The FDA official said the agency “never agreed to accept this distorted comparison” and the FDA “never makes such assurances.” Instead, the “FDA will always say, ‘Well, we have to see the data when we get it.'”
UniQure didn’t immediately comment.
The company’s stock rose more than 10% on Thursday and has fallen 58% this year as of Thursday afternoon.
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US mortgage rates rise to 6% after three-week slide as oil-driven bond yields climb – The Times of India
The average long-term US mortgage rate edged higher this week, ending a three-week decline as bond yields rose amid oil-price pressures linked to the war with Iran.The benchmark 30-year fixed mortgage rate increased to 6% from 5.98% last week, mortgage buyer Freddie Mac said on Thursday. A year ago, the average rate stood at 6.63%, AP reported.The modest uptick breaks a three-week slide in borrowing costs, with mortgage rates having hovered close to the 6% mark for most of this year. Last week’s average had marked the first time the rate dipped below 6% since September 2022, reaching its lowest level in nearly three and a half years.Mortgage rates are influenced by several factors, including the Federal Reserve’s interest-rate policy, investor expectations about inflation and economic growth, and movements in the bond market.They typically track the direction of the 10-year US Treasury yield, which lenders use as a benchmark for pricing home loans.The 10-year Treasury yield rose to 4.14% at midday Thursday, up from around 4% a week earlier.Treasury yields have moved higher in recent days as rising oil prices added fresh inflation concerns, potentially complicating the Federal Reserve’s plans to cut interest rates.
Foreign funds would divert their liquidity into buying Pakistan’s stocks. This would merely increases prices of shares and be profitable for those who already hold stocks. PHOTO: FILE
KARACHI:
The Pakistan Stock Exchange on Thursday staged a powerful rebound, when the benchmark KSE-100 index surged by over 5,400 points, reclaiming the 160,000 level in a decisive rally driven by strong institutional buying and renewed investor confidence.
The session marked a sharp recovery from recent volatility as bulls took control from the opening bell. Index-heavy stocks like Hubco (+7.15%), OGDC (+8.24%) and others led the charge, contributing significantly to the gains, while trading volumes rose to 724 million shares valuing at Rs35 billion. K-Electric dominated the volumes with over 115 million shares traded.
At the close of trading, the KSE-100 index posted a strong gain of 5,433.46 points, or 3.49%, and settled at 161,210.68.
According to Arif Habib Limited (AHL), the stock market staged a strong rebound as the benchmark index pushed higher from its 200-day moving average, gaining 3.49% to reclaim the 160,000 level. Market participation remained broadly positive, with 85 shares advancing while 14 declined among key index movers.
The major contributors included Hubco, which rose 7.15%, OGDC, higher by 8.24%, and Fauji Fertiliser, which despite declining 2.93% remained among the notable stocks influencing index movements. On the downside, Abbott Laboratories fell 3.5%, Highnoon Laboratories declined 2.42% and Fatima Fertiliser slipped 0.82%, emerging as the biggest drags on the index.
Meanwhile, geopolitical and macroeconomic developments also remained in focus. Pakistan’s top military leader stated that the country was willing to halt operations against Afghanistan if the Taliban government stopped supporting terror groups operating from its territory. On the economic front, Saudi authorities assured Pakistan of secure energy supplies through the Port of Yanbu on the Red Sea, helping support the country’s energy requirements, it said.
Additionally, Pakistan was preparing to introduce several measures, including weekly petroleum price revisions, compensation to oil companies for higher insurance costs and import premiums, and fuel conservation initiatives. Finance Minister Muhammad Aurangzeb also assured a parliamentary panel that Pakistan had adequate petroleum reserves, including 28 days of petrol and diesel supply.
Despite the strong rebound during the session, the market remained down about 4% week-on-week while heading into the final trading day and continued to trade within the large gap created by Monday’s sharp decline, AHL said.
“Bulls stormed back with authority in Thursday’s trading session, firmly planting their feet from the outset,” Topline Securities stated in its review. Strong institutional buying turned the tide after the market’s recent overreaction to regional issues, as confidence swiftly replaced caution.
Momentum gathered strength as the session progressed, driving the index to the intra-day high of 5,699 points before closing at 161,211 – up 5,433 points. It was not merely a rebound, but a statement rally marked by decisive accumulation and broad-based strength. Index-heavy constituents including Hubco, OGDC, Fauji Fertiliser, Engro Holdings and Meezan Bank led the charge, collectively contributing 2,197 points to the benchmark’s gain and reinforcing the bullish undertone, Topline said.
During the day, shares of 478 companies were traded. Of these, 350 stocks closed higher, 78 fell and 50 remained unchanged.
K-Electric was the volume leader with trading in 115.6 million shares, gaining Rs0.61 to close at Rs8.05. It was followed by Trust Securities & Brokerage (R) with 50.03 million shares, losing Rs0.04 to close at Rs0.18 and Unity Foods with 48.3 million shares, gaining Rs0.55 to close at Rs10.08. Foreign investors sold shares worth Rs1.4 billion, the National Clearing Company reported.
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