The purpose of alimony is to allow the financially dependent spouse to become financially independent once their divorce is finalized. This is a highly contested issue in divorce proceedings, but ultimately, alimony is not intended to be a permanent fixture. Whether you require alimony or you believe your spouse is asking for an unreasonable alimony agreement, follow along to understand how a proficient Nassau County alimony lawyer of Barrows Levy PLLC can fight on your behalf for the best possible outcome.
What factors are considered when determining the amount and duration of alimony?
The amount and duration of alimony received depends on a wide variety of factors. In New York State, these factors include the following:
- Yours and your spouse’s yearly income.
- Yours and your spouse’s earning capacity.
- Yours and your spouse’s monthly expenses and debts.
- Yours and your spouse’s health conditions.
- Yours and your spouse’s age.
- Yours and your spouse’s education.
- Yours and your spouse’s work history.
- Yours and your spouse’s marital property and its taxes.
- Yours and your spouse’s inheritances
- Yours and your spouse’s child custody agreement.
- Yours and your spouse’s pensions or other benefits gained or lost to benefit the marriage.
- Yours and your spouse’s interruption in education or career to benefit the marriage or raise the children.
Is there such a thing as permanent alimony?
Permanent alimony is based on the duration of your marriage. So, suppose you were married for up to 15 years. Then, alimony may be awarded for 15 to 30 percent of the time you were married. This percentage will increase with the increased number of years that you were married.
Then, there is rehabilitative alimony. This is for spouses who put their careers on hold to support their partner and require proper education or training to find a job to support themselves.
Lastly, there is reimbursement alimony. This is for spouses who require to be paid back if they supported their partner while they were pursuing their education.
Can alimony payments be adjusted or terminated?
Notably, alimony payments can be modified over time or even terminated if there is a significant change in circumstances.
For example, if the spouse receiving alimony receives a job promotion, an inheritance, or otherwise comes into a sum of money that benefits their financial situation, then the spouse paying alimony can request a modification to lower their payments.
Or, a modification to alimony can be serious if there are new and serious medical conditions, loss of employment, remarrying, or death of a spouse.
For more information, you should contact one of the talented divorce attorneys in Nassau County today.
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If you need a Nassau County lawyer who has significant experience handling family and estate planning matters, contact Barrows Levy PLLC to schedule a consultation with one of our experienced attorneys today.