You might think that alimony is standard for anybody and that every spouse should expect the same amount in alimony payments, but this is not true. There are actually many factors that are taken into consideration when the courts are determining what you should receive as your monthly payment, based on what they think is fair. Today we will look at some examples.
Factors to Determine Alimony Payments
Standard of Living: One of the factors that the court considers is the standard of living of both parties. The goal is to maintain the lifestyle of both parties during their marriage so it feels as if nothing has changed drastically on a financial level as you get back on your feet. They might look at the cost of all of your assets as well as your recreational lifestyle.
Marriage Length: If you have been married longer, you will probably receive more in alimony. Long-term marriage is usually that in which is longer than 17 years, but this changes from state to state.
Financial Resources: Your need for financial support is, of course, one of the biggest factors to be considered at this time. The judge will look at any financial resources that are available to you. For instance, do you have any savings between you and your spouse that you are able to use? Do you have another party supporting you in any way?
Parenting Responsibilities: Parenting responsibilities in the present and future are also considered. Many needs are considered because your children come first when it comes to divorce.
All Sources of Income: They might also consider what income you bring in, which can mean investments and more.
You have many rights when it comes to alimony and we understand that you are going through a financially difficult time. We are here for you and want to extend a helpful hand at the Montes Law Firm. Call us for more information on how we can assist you.