Alimony is designed to provide financial support to the spouse who is at an economic disadvantage following a divorce. There are three primary types of alimony: (1) periodic, (2) lump sum, and (3) rehabilitative.
- Periodic Alimony
Periodic alimony involves a court order requiring one spouse (typically the husband) to pay a set amount, such as $2,000 per month, to the other spouse until either their death or remarriage.
- Duration: It lasts indefinitely.
- Modification: It can end if the recipient dies or remarries, and may also end if the recipient starts living with someone of the opposite sex. Periodic alimony can be modified (increased or decreased) in cases of significant and unforeseen changes in circumstances.
- Tax Implications: The payer can deduct periodic alimony from their taxes, while the recipient must report it as taxable income.
- Lump-Sum Alimony
This type of alimony is suitable when the couple wishes to sever ties completely. The court may order the payer to give a sum of money (e.g., $50,000) paid in installments (e.g., $10,000 per month for five months).
- Duration: A set time period, either paid in full upfront or in installments.
- Modification: Lump sum alimony is non-modifiable and treated like a contract, not subject to changes once agreed upon.
- Tax Implications: It may be deductible by the payer or taxable to the recipient, depending on whether it is clearly labeled as alimony or part of a larger settlement agreement.
- Rehabilitative Alimony
Rehabilitative alimony is typically the preferred option, designed to assist the recipient spouse in regaining financial independence by helping them re-enter the workforce or pursue education.
- Duration: Set for a specified period, such as $1,000 per month for 36 months.
- Modification: Rehabilitative alimony ends if the recipient dies or remarries, and can be adjusted if rehabilitation efforts are unsuccessful.
- Tax Implications: It is deductible for the payer and taxable for the recipient.
- Purpose: This alimony aims to help the disadvantaged spouse regain their ability to support themselves, especially if they sacrificed their career during the marriage.
Factors for Determining Alimony
The court will consider various factors when deciding on alimony, including:
- The financial resources and earning capacity of the requesting spouse.
- The standard of living during the marriage.
- The time it will take the disadvantaged spouse to gain employment or further education.
- The physical and mental health of both spouses.
- The balance between the needs of the disadvantaged spouse and the ability of the other spouse to pay.
- The physical condition, such as chronic illness, of each party.
Considerations for Awarding Alimony
The main considerations for awarding alimony are the needs of the disadvantaged spouse and the paying spouse’s ability to contribute. Fault may be considered in cases of marital misconduct but typically does not affect the division of property unless one spouse has wasted marital assets.
Modification of Alimony
Any request for modification requires substantial evidence of a significant and lasting change in circumstances, such as remarriage, cohabitation, or death.
Alimony Pendente Lite
This is a temporary form of alimony granted during divorce proceedings to help cover the costs of the divorce. It terminates once the divorce is finalized.
- For couples with a combined income over $30,000, a formula is applied to calculate alimony based on the difference in income and whether minor children are involved.
Divorce Lawyer R. Badet
Divorce Lawyer R. Badet is an experienced attorney specializing in divorce and family law matters. He provides expert legal representation for all aspects of divorce, including spousal support, child support, and custody. With years of experience, Lawyer Badet is committed to achieving the best possible outcomes for clients in both Family and Criminal Law. For more information or to schedule a free consultation, visit his website at www.lawyersfordivorces.net.
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