Protecting Your Financial Future – Why Hiring an Alimony Attorney is Essential
The financial security of the future is a huge consideration in divorce. It is why you want to be sure you have the right attorney by your side.
Establishing a fair and workable alimony agreement isn’t always easy. A good lawyer can help you avoid costly litigation by negotiating outside court.
What is Alimony?
Alimony is a court-ordered sum that one former spouse pays to another to assist in getting back on their feet after divorce. Also known as spousal support, alimony may be temporary or permanent. It can be paid in cash or property, typically monthly.
Courts consider the incomes of both parties when deciding alimony amounts. They look at past spending habits as well as future earning potential. For example, if a person spent their entire marriage raising children and caring for the house, they might be entitled to some form of alimony upon divorce.
There are several types of alimony, including the general term alimony, which is paid regularly until the payee reaches full retirement age or dies. Rehabilitative alimony is usually paid while the lower-earning spouse tries improving their employment prospects. Reimbursement alimony is used to cover expenses related to a job search or training and doesn’t continue.
How Does Alimony Work?
Alimony is a court-ordered payment that allows ex-spouses to continue living the standard of life they had during marriage. It can help to limit the unfair economic effects of a divorce. A court will consider many issues, including real needs, the amount each spouse can/should reasonably earn, and the length of the marriage.
There are several types of alimony, including temporary alimony and permanent alimony. Temporary alimony is typically paid during divorce and ends when the case is finalized. Permanent alimony is typically reserved for lengthy marriages or situations where the stay-at-home spouse has passed their prime work years and isn’t likely to become a high-earning professional again. A judge will also consider various financial resources when considering alimony payments, including employment, property, retirement accounts, and other assets. A judge will also consider a history of domestic violence and other factors that may affect one party’s ability to earn in the future.
How Can I Get Alimony?
Alimony, or spousal support, is designed to help the spouse who has been out of the workforce for a while. The court considers a spouse’s future earning potential when determining how much and how long to award support. It means that spouses should work hard to get professional training and build their resumes, which may improve their future financial prospects.
The length of alimony depends on the time the couple was married. The court may award a short-term alimony payment to allow a spouse to reenter the workforce and become self-sufficient, or it may grant long-term alimony for a high-earning spouse accustomed to a certain lifestyle they helped maintain during the marriage.
If a spouse fails to pay court-ordered alimony, the paying spouse can take action by filing a motion (legal paperwork) with the judge who ordered the payments. An experienced alimony attorney Wayne County NC can draft persuasive legal paperwork to seek enforcement of the alimony order.
Why Do I Need an Alimony Attorney?
In recent years, there has been a nationwide trend for courts to award alimony in fewer cases and to keep the duration relatively short. It is because the courts look at both spouses’ incomes, the potential for future earnings, and the standard of living established during the marriage. In addition, spousal support payments take a bite out of the paying spouse’s paycheck and count as income for the receiving spouse. These factors make determining the correct amount for an alimony award is difficult.
An experienced spousal support attorney can help settle your divorce with an alimony payment that you are comfortable with. They can also assist you if your case goes to trial and the court needs to calculate the amount of alimony.
Both spouses can request a modification if there has been a change in circumstances. Examples include the payor retiring, the recipient remarrying, or the payee cohabitating with another person.