Alimony is court-ordered financial support to a former spouse. For example, if one spouse gave up his or her career to care for the family, alimony ensures he or she is not disadvantaged by the divorce, and it is distinct from child support. If you are considering or in the process of a divorce, it is essential to understand alimony and anticipate its role in your legal proceedings.
Here’s our beginner’s guide to alimony:
Types of Alimony:
- Permanent alimony. Owed until death or the remarriage of the lower-earning spouse.
- Temporary alimony. Owed only during the divorce proceedings to ensure that immediate financial needs are met.
- Reimbursement alimony. Owed to the lower-earning spouse for contributions he or she made in the higher-earning spouse’s professional advancement, such as support through graduate school.
- Rehabilitative alimony. Owed temporarily while the lower-earning spouse works to advance his or her employment, whether by education, training, or job hunting, with the intention of ceasing payments when self-sufficient.
- Lump-sum alimony. A one-time payment, often in lieu of a property or asset settlement.
How Alimony is Determined:
- Standard of living. Maintaining a similar standard of living is the goal of alimony arrangements.
- Duration of the marriage. The longer the marriage, the more weight that is put on alimony responsibilities, especially if one spouse was dependent on the other financially.
- Earning capacity. The court considers the education, work experience, and earning capacity of both spouses to ensure an equitable alimony award.
- Marital and family contributions. If one spouse gave up a career to care for children or supported the other through medical school, for example, those contributions will be factored into alimony.
Alimony depends on a host of unique factors specific to each couple. We always recommend that you seek legal counsel from our team to advocate on your behalf and ensure your interests are protected in alimony arrangements.