Married couple sin New York and elsewhere often get accustomed to their lifestyle during the marriage. Thus, when a couple decides to divorce, this could present financial issues for one spouse. But this can be addressed during the divorce process by seeking alimony.
Spousal support is a mechanism to ensure that the divorcing spouses can enjoy the same standard of living they were accustomed to during the marriage. Therefore, if you are seeking to reduce the unfair economic effects of divorce, it is important to understand how alimony is assessed during a divorce.
Alimony basics
It is important to note that an award of alimony in a divorce is a stand-alone issue. In other words, it is not part of the property division process, and it is separate from child support. Generally, there are five different types of alimony, and depending on the situation and specific factors of the marriage, one or more may be suitable for your divorce.
Alimony types
The first is rehabilitative alimony, which is short-term support for the lower-earning spouse during the transitional period following the divorce. This period or alimony last until they become self-sufficient. The second type is reimbursement alimony. This essentially repays a spouse for the contributions they made to the marriage.
The third is temporary alimony, and just like its name suggests, this is support typically paid during the divorce proceeding or as part of a legal separation agreement. It’s common for them to terminate once the divorce is finalized. In contrast, the fourth option is permanent alimony. Just like the name implies, this type of alimony remains in effect until certain conditions occur, such as remarriage or death of the recipient spouse. The final type is lump sum alimony, which is when an amount is agreed to and paid in one lump sum instead of monthly payments of an extended period.
Determining factors
There are guidelines for spousal support, and an award is based on certain factors. Thus, alimony is not awarded in all divorces. Factors that court looks at include the length of the marriage, the standard of living during the marriage, the length of time the recipient seeks alimony, the ability of the payer spouse to support the recipient and themselves, age, physical condition, emotional state and financial situation.
Whether you seek to receive alimony or believe you will pay spousal support in your divorce, it is important to understand your situation and legal rights. A legal professional can help you assess your situation, answering any questions or concerns you have.