Sandra K. Ambrose, P.A. is an Experienced Negotiator in Calculating Alimony
Divorce proceedings are difficult, at best. The ending of a relationship elicits a wide range of emotions including anger, sadness and grief for both spouses. The subject of alimony is perhaps the most difficult negotiation to endure. Both spouses are concerned about a division of their monies and assets and the impact this will have on their standard of living. Alimony, also known as spousal support, may be awarded in many different ways and amounts, depending on the unique circumstances of you and your family.
To calculate spousal support, the court takes into consideration the following;
- Longevity of the marriage. Generally, the court does not grant alimony payments for longer than the duration of your marriage. Marriages in Florida are categorized as short term, medium term and long term marriages. The length of your marriage impacts the amount and duration of the alimony award.
- Age and health of both spouses. With a medical disability, spousal support may continue permanently as the receiver of the alimony is not expected to be able to become self supporting.
- The guideline to calculate an alimony payment, according to the American Academy of Matrimonial Lawyers, is 30% of the payer’s gross annual income minus 20% of the recipient’s gross annual income. However, in the State of Florida, the court uses their discretion, based on a set of statutory factors, when deciding on the appropriate amount, on a case by case basis.
Alimony payments can be durational or permanent.
Durational alimony is money awarded to provide financial assistance for a specific time period following the dissolution of a marriage. Permanent alimony is to continue indefinitely, however, alimony is modifiable. Alimony can be modified if there is a substantial change in circumstances of either party. Alimony terminates if the receiving spouse remarries or dies and may be terminable if the receiving spouse enters into a supportive relationship with another partner. If the payer of the alimony retires and their income has significantly decreased, this can justify a modification or perhaps termination of alimony. Alimony can be paid out in a lump sum award or through a periodic payment system. For those that pay out a lump sum award, it is important to know that if life’s circumstances change, it does not change the obligation of the lump sum award. A method that is used to avoid paying alimony is to negotiate a lump sum alimony from the marital assets.
In every divorce, there is the emotional side and the legal side. Let Ambrose Family Law in Lake Mary, Florida, deal with the legal issues. It is in your best interest to have legal representation that will negotiate an alimony amount that you can live with. If you are considering divorce and are concerned about alimony, we are here to help and we can answer all of your questions. Call us today to discuss your situation. Call today at (407) 388- 8740.