How Much Will My Alimony Payments Be?
During a divorce, there are many financial factors that both spouses must take into account. This can include the division of assets as well as certain court-ordered payment agreements. One such financial matter that may need to be addressed is alimony, sometimes referred to as spousal support. One question we receive commonly is how much potential alimony payments will be. That’s why our family law experts have taken time to weigh in on that very subject.
The purpose of alimony is to ensure that both parties are able to maintain a standard of living after their divorce that is reasonably comparable to that which they shared during the marriage. There is no set amount for alimony payments, as the exact amount depends on the income and financial standing of each individual party involved.
Either spouse is permitted to request alimony during their divorce. However, in order for alimony to be granted, a judge must rule that the spouse requesting alimony payments needs the financial support and that the other spouse is capable of providing it. Once this is decided, the court will consider the following factors to determine the amount and duration of alimony payments:
- The couple’s pre-divorce standard of living
- The length of time they were married
- The available financial resources for each spouse
- Each spouse’s age and physical and emotional wellbeing
- Each spouse’s respective contributions to the marriage, including childcare, education, and career-building
- Events of marital misconduct or infidelity that may have contributed to the dissolution of the marriage
We understand that alimony can be complicated and there is often far more for people going through a divorce to know about the subject. However, this information can serve as a useful baseline for anyone looking for a starting point. For more information, contact Oxendine Law at (770) 497-8688 today to schedule a meeting in-person, over the phone, or by video conference. Don’t forget to follow us on Facebook, Twitter, and Instagram for additional family law tips, news, and more helpful information.