Chapter 4: Gross Income from Personal and Investment Activities

01.Core Concepts

• Medical Insurance • Treated as alimony in entirety if the agreement does not specify what part was for the child’s support • Life Insurance • Payee spouse is owner  Premium payments made by payor spouse are alimony. • Cash values are not considered to be alimony. • Payee spouse is named as beneficiary.  Premium payments are not alimony.  Death benefit included in payor spouse’s estate  Death benefit is tax free to payee spouse.