Spousal Support (Alimony)
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.
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,
- 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 (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: How The New Tax Plan Changed Spousal Support