Alimony Support Firms
An alimony and spousal support attorney is one of the most sought legal advisors. Spousal support, known as alimony, is when one spouse makes a payment of a predetermined amount of money to the other spouse. This historically was a clause of divorce meant to help women who were faced with marital separation with no way to sustain themselves since they worked strictly from the home, raising children and more.
Today, those roles can be switched. As such, there are new, less traditional arrangements that sometimes come from alimony agreements. It’s not uncommon now for the male spouse to be the dependent.
What is Alimony?
Alimony can also be known as ‘maintenance.’ It is a direct monetary payment from one partner to another. There are a few ways this court ordered amount can be paid. However, with modern technology, it is generally a direct transfer from one bank account to another.
There is usually a negotiation through either a mediator or a judge as to what the actual amount to pay will be. In some states, there is a specific equation that is based on certain factors, so be sure to select an attorney that knows your state laws well. Then there are the specific terms and maintenance of the agreement. The terms of any alimony agreement could be ended for a variety of reasons and also be perfectly legal according to state law. Here are just a few examples:
- The children children get older or no longer need a parent at home full-time.
- Your spouse gets trained for a new job that brings in more income.
- The children have graduated from high school.
- The paid spouse has made no effort to become self-sufficient.
- The paid spouse gets remarried.
Ultimately, the final terms are presented in court for approval. Most courts do not track specific payments, but they will react if payments are reported as not being made.
Types of Alimony and Spousal Support
1. For a Designated Amount of Time
Each state has different stipulations on this, but it’s common for the alimony payments to be set for a specific period of time. And in many states that is determined by a few different criteria – one being how long the marriage lasted. Ultimately, a timeline is determined, written into the divorce decree, and then executed on by the designated spouse until the end of the given term.
2. Alimony in a Lump Sum
Instead of paying over time, the other option is for the designated spouse to simply pay once in a lump sum. This payment could be in the form of money, property or other assets. In other words, giving a spouse a house or boat, for example, could suffice. There just has to be proper handling of the ownership status of any item that is not money, and the court will allow it.
3. Permanent Alimony
The other type of payment is called ‘permanent’ spousal support. Unlike payments over a pre-determined period of time, this is a type of payment that never stops. They go on indefinitely. There are a few loopholes to this agreement though. For example, if a spouse remarries or cohabitates with a new partner, the contract can be nullified. These terms vary by state, so check with your local attorney. Sometimes a spouse can also petition the court to change the terms of this plan if it becomes untenable in any way.
