An unfortunate reality of life is that many marriages end in divorce. Divorces are life-changing events that can be very hard to get through due to all the various elements involved. One of these elements is alimony.
If your spouse makes a lot more money than you, then you may want to negotiate alimony in your divorce. While nobody wants to pay it, the law allows for it under certain circumstances. Therefore, if you’re eligible for it, you should take the steps to ensure you get what you deserve. Here are some tips to help.
Alimony laws vary from state to state, so go online and do your research to see how much you can get. There are also calculators online that can help you estimate how much you can receive. A lawyer can also help you understand the requirements and whether or not you are eligible.
If you’re leaving a marriage with little money, you need to know how to negotiate alimony, because your life pretty much depends on it. While you need to understand the laws, you also need to think about your financial needs.
Alimony is based on the income and financial resources of each party. Legal guideline calculations of support are not always adequate to meet the needs of the spouse with the lower income, so you need to work with your lawyer to negotiate heavily in this regard. Do not simply accept the guidelines.
What did your finances look like during marriage and what does it look like now? Analyze the gap between the two and ideally, alimony should help bridge this gap. Develop a budget so you know how much you will need for ongoing expenses.
Instead of going to court, consider mediation. This allows you to work with a neutral third party to come to an agreement that works for both parties. Alimony can involve monthly payments, a lump sum settlement, or even assets in lieu of money. There are various approaches to take, so find the right one for your situation.
If you were a stay-at-home mom while married, accept the fact that you will have to return to work at some point. You will not be able to live solely on alimony. You have an obligation to become financially dependent, and this means earning your own income. So don’t expect alimony to be your long-term solution.
A divorce involves many aspects, including alimony. Many marriages will involve alimony, as most people get married at some point in their lives and nearly half of these marriages end in divorce.
Divorce can be stressful. The Columbia family lawyers Law Offices of Todd K. Mohink, P.A. can help with alimony and other elements of divorce. Schedule a consultation today by calling (410) 774-5987 or filling out the online form. We have two offices to serve you.
7310 Ritchie Highway, Suite 910
Glen Burnie, MD 21061
30 Corporate Center
10440 Little Patuxent Parkway,
Columbia, MD 21044