Types of Alimony in Family Law
If you are considering hiring a family law attorney, you need to consider how he can help you with your case. Alimony is a complex area of law, and attorneys with experience in family law will be able to guide you through it.
Rehabilitation alimony is a type of alimony that provides payments while a spouse goes through schooling or retrains for a new career. This alimony will typically be paid for two to five years while the dependent spouse completes schooling or a degree. A family law attorney can help you apply for this type of alimony. There are several different types of alimony. The most common type of alimony is temporary and ends after a certain number of years. However, temporary alimony may be extended for a limited period. The length of rehabilitation alimony is typically only the length of the marriage, but it can still be extended if both parties are willing to wait for the end of the alimony payment period. According to a family law attorney Pembroke Pines, FL, rehabilitative alimony is meant to help one spouse get back on their feet after divorce. Often, it is awarded if one spouse contributed financially to the other spouse’s education.
Reimbursement alimony is a type of spousal support. One partner pays the other for the support they provide for their spouse during their marriage. Though it is not as common as regular alimony, reimbursement alimony can be a great way for a supporter or stay-at-home spouse to receive compensation. A divorce attorney can help you understand the rules and apply reimbursement alimony in your case.
Various factors could lead to reimbursement alimony. For example, one spouse may be responsible for major expenses or contribute a majority of the income to the household. A judge may order reimbursement alimony to cover these expenses, primarily if they benefit the other spouse’s career.
Lump Sum Alimony
A lump sum alimony buyout is a way to end spousal maintenance payments. Instead of making periodic payments, the paying spouse transfers property worth the equivalent value of support payments to the receiving spouse. The lump sum payment is yours to keep if the circumstances change. The advantages of lump sum alimony are many. It releases the recipient from the financial obligations of their former partner and allows them to rebuild their financial cushion. However, it is crucial to seek the advice of a family law attorney before signing anything.
During the divorcing process, the parties can agree on temporary alimony. This can be a verbal agreement or a written agreement that is submitted to the court as a binding pendente lite agreement or a consent order. The purpose of temporary alimony is to assist spouses during the divorce process. The length of alimony can vary depending on the length of the marriage and the needs of each spouse. Sometimes, temporary alimony lasts for a few months or even a year. If the receiving spouse fails to meet their obligations, a judge may reduce the amount and duration of the payments.
Pre-Marital / Pre-Nuptial Agreements
Your family law attorney can help you draft a pre-marital / pre-nuptial agreement. These documents are less likely to result in a messy divorce than a pre-marital agreement. They are often less contentious, and attorneys will not be tempted to stir up trouble during negotiations. Your pre-marital / pre-nuptial agreement may have clauses that will protect your assets. For example, it can spell out what is yours and what is your spouse’s. It can also specify how much of you is liable for any debts incurred during the marriage. This can protect you from being harassed by collection agencies. Additionally, it can lay out your financial future during the marriage and provide retirement strategies. It may also include spending allowances.
Permanent alimony agreements are often necessary for older people, who typically have a harder time finding employment and need assistance with health care. However, this need is not limited to the elderly since spouses with chronic health conditions, or injuries can also require financial support. In addition to the ongoing medical costs, these conditions can negatively affect an individual’s employability. In these cases, a family law attorney can help. A court order or a negotiated agreement usually determines the amount of permanent alimony. Although the court has considerable discretion in determining the amount of alimony, the outcome is more predictable with a mutual agreement. Additionally, a negotiated agreement can avoid the need for long court battles and can lead to a more equitable result.