It is important for divorcing spouses to understand alimony
Alimony, also referred to as spousal support, is often a paramount concern in many divorces. Divorcing couples are able to reach an agreement concerning alimony themselves but if they are unable to do so, the family law court can determine how spousal support will be awarded. The court seeks to reach a fair and equitable settlement and will evaluate certain considerations to determine alimony.
When divorcing spouses work together concerning their divorce settlement, they can save time, money and acrimony, however, when divorcing couples are unable to reach agreements, the family law process provides options and resources to help them when needed. Alimony is a common concern for both the paying spouse and the recipient spouse and can be an important calculation for both spouses moving forward following the divorce.
It is important to understand the objectives and needs of the spouses that are expected following the divorce when calculating alimony. Factors that may be considered include the income of both spouses; the length of the marriage; the standard of living enjoyed during the marriage; the needs and expenses of the spouses; the ability of both spouses to earn an income and how it may have been impacted by one spouse remaining at home to raise children or support the education of career of the other spouse; expected future earnings of both spouses; and contributions made by both spouses during the marriage.
Alimony can be a complex concern and calculation but because of its importance to both divorcing spouses, it is useful to understand. It is helpful for divorcing couples to approach alimony thoughtfully and to be familiar with how it is determined.