A divorce impacts nearly every aspect of your life. And after your divorce is finalized, you may find yourself in a financial situation you never expected to be in. Though not everyone qualifies for spousal support, also known as alimony, it is a viable option for many people.
Alimony Options After a Divorce
Contrary to popular belief, spousal support is rarely a blank check written from one former spouse to another. Depending on your and your ex’s financial situation, you may qualify for one of the below support options.
Rehabilitative alimony is typically given to a former spouse for a short period of time. The goal of this type of alimony is to provide the receiving party with the funds necessary for them to become self-sufficient. Most often, money received for rehabilitative alimony needs to be put towards obtaining a skill, education, or employment. Either after a designated period of time or once the receiver is self-sufficient, alimony payments are stopped.
Asset division is rarely an even 50/50 split. Often, lump-sum alimony is a one-time payment given to one party in lieu of a property settlement.
Permanent alimony is support given from one former spouse to another, until one party passes away or the receiving spouse remarries. To qualify for permanent alimony, the Courts will look at a few different things, like when you got married, how long you were married for, your earning capacity throughout the marriage, and both spouses’ finances.
If a couple separates but isn’t formally divorced yet, temporary alimony may be granted. Just like all other forms of alimony payments, temporary support can be adjusted over time and depending on changing circumstances.
At Blood Law, PLLC, we believe in helping our clients achieve their goals – no matter how complex their divorce or other family law issue. Our lawyers provide tailored legal services with a unique, team-based approach to do our best to achieve these results.
To learn more about our legal services, contact our lawyers online or give us a call at (704) 286-0570.