Divorce offers some the opportunity to make a fresh start. However, divorce can also set some back in time when it comes to financial matters. Spousal support (or alimony) is meant to provide financial help for parties in a divorce or separation when a need is demonstrated. Read on and find out the facts about spousal support.
- The spousal support payee must show a need. Spousal support is ordered on a case-by-case basis. In many cases, the spouse asking for support is unequal to the other party in education and career standings. Other spouses need support when they are ill, older, or incapacitated. However, high-asset divorces often include spousal support when the wealth of one party far exceeds that of the other. It's a way to even things out financially.
- Spousal support comes in three versions. It may be ordered during the separation period and that form of support expires when the divorce is final. That is known as temporary spousal support. After the divorce is final, rehabilitative support is common. This form of support may also be temporary, but the end of the support is based on the accomplishment of a specific goal like completing job training or being hired at a job. Finally, permanent support may be appropriate when the receiving spouse is older, ill, or unable to work enough to attain the lifestyle they were living when married.
- Spousal support is traditionally paid in regular payments using liquid assets like cash or checks. However, spousal support may also be in the form of property. For example, a home may be awarded in lieu of spousal support.
- In the past, spousal support was often tied to fault in the divorce. For example, a cheating spouse might be ordered to pay spousal support as a form of punishment for wrongdoing. Though every state offers couples the right to have a no-fault divorce, fault can still play a part in issues like the order to pay spousal support.
- The amount of spousal support ordered depends on several factors. The paying spouse, before they are ordered to pay spousal support, must be judged to be able to do so. The amount ordered depends on the assets and income of the couple and the ability of the payor to earn income in the future.
If you believe you are owed spousal support, speak to your lawyer. The financial holdings of your spouse and your financial situation will be under the microscope during the divorce, particularly if your spouse objects to paying. Speak to your divorce lawyer for more information.
To learn more, contact a law office such as Knollmeyer Law Office, PA.
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