Spousal Support
Spousal support, also referred to as spousal maintenance or alimony, is likely an issue whenever there is a significant difference in personal income between the two spouses.
What Is Spousal Support Used For?
Spousal support is designed to provide the lower-income spouse with money for living expenses regardless of gender. The existence, amount and duration of monthly spousal support payments will be defined either by the court or a settlement agreement.
How Are Spousal Payment Amounts Calculated?
Courts make determinations regarding spousal support after considering many factors such as:
- the length of the marriage,
- the standard of living during the marriage,
- as well as the age,
- health,
- earning capacity
- and job histories of both individuals.
In many cases, it’s imperative to negotiate or litigate to achieve a minimization or termination of this sometimes oppressive obligation.
Men generally have greater exposure to Spousal Support (97-98% of payers are men) and this issue can have a profound impact on how they live day-to-day and plan for retirement.
Related Reading: An In-Depth Look At How Spousal Support Works In Washington State
Related Reading: How Major Purchases Can Affect Your Divorce