show-me-the-money

Alimony… Show Me The Money!

In this post we’ll continue our discussion about alimony. Let’s talk about how alimony is awarded, and how the judge figures out the amount and payment schedule of alimony.

Will A Cheating Spouse Make a Difference in Awarding Alimony?

If one party to the marriage commits adultery during the marriage, the judge takes that into consideration when deciding if alimony should be awarded. In addition, the judge will determine if either spouse needs alimony and whether the other has the ability to pay.

Alimony: A Complex Calculation with Long-Term Consequences

The judge will take into consideration any and all circumstances when determining alimony awards. The actual alimony award and how it is paid is a complicated decision with many long-term consequences. It is critical that you have a knowledgeable and dedicated attorney to ensure you are treated fairly.

The judge considers these specific factors (but can include many more) when calculating alimony:

  • Standard of living during the marriage;
  • Length of the marriage;
  • Age of both parties;
  • Overall physical and mental health of both parties;
  • Financial ability of each spouse, including non-marital and marital assets and liabilities
  • Both parties employment, education levels, skills or vocational training, and how much time is needed, if any, for either spouse to acquire education or training to support themselves
  • Contributions to the marriage, including housekeeping, child-rearing and career assistance of one spouse to another
  • Post-divorce responsibility for minor children
  • Taxable incomes of both parties, and how alimony will effect income
  • Investments and all other income available to both parties

How is Alimony Paid and What Happens if the Responsible Spouse Dies?

Once alimony has been awarded, the judge may require the spouse responsible to secure life insurance to make sure the recipient spouse gets the award. In addition, the judge can award alimony payments in installments or in a lump sum.

Ensure Your Future with an Experienced Attorney

It’s important to note that these are not the only criteria the judge may use to determine alimony. And alimony is not calculated based on a specific mathematical formula. Ultimately, your financial future is at stake. That is why it is critical that you have a thorough and assertive divorce attorney overseeing your case.

Liliana Guarino is an experienced divorce attorney who will make sure that the court is fully aware of the specifics of your situation. She will make sure you are treated fairly in this complicated process. Call her today to schedule your no cost, no-obligation consultation.

Photo credit: Ervins Strauhmanis