What Are The Different Variables That Affect Alimony?
Alimony, or spousal support, is the financial support paid to one ex-spouse by the other. Alimony can be temporary, durational, or permanent. It may be paid in one lump sum or in installments. However, there are different variables that affect alimony, such as:
Standard of Living
One of the factors the court usually examines when determining alimony payment is both parties’ standard of living. To examine the standard of living, the court thoroughly looks at both parties’ financial information and assets. The value of assets that the court generally reviews include homes, vehicles, retirement accounts, and any other type of possessions. In typical cases, the more expensive the lifestyle of the couple, the likelier it is that alimony will be needed.
In most cases, the longer the couple has been married, the greater the likelihood that support will be awarded. Marriages can be classified as long term marriages (longer than 17 years), moderate term marriages (longer than 7 years but less than 17 years), and short term marriage (less than 7 years). Generally, permanent alimony is awarded only in long-term marriages.
An alimony lawyer Ft Lauderdale can help you to determine your rights to alimony and can help you get a fair alimony payment.