Spousal Support Options During a Divorce Lawsuit
From permanent alimony to reimbursement alimony—there are several options when it comes to child support in a divorce case. Whichever option you choose, be sure it suits you. So, evaluate your options. Look at your explicit case. Consider the pros and cons of each option. Discuss each option with your lawyer. Select an option that will give you peace of mind. The following guide will take you through all these options.
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During a divorce, there are different types of alimony involved. They include:
- Permanent alimony
- Temporary alimony
- Lumpsum alimony
- Rehabilitative alimony
- Reimbursement alimony
Of course, a divorce ends a marriage. However, it doesn’t mean that obligations to each other ends. Oftentimes, spousal support or alimony options can be pursued for a better post-divorce life.
What Is Alimony?
Also, known as spousal support, alimony represents any financial assistance-based on the divorce decree. With this option, it recognizes the contribution of each partner in marriage. This is aimed at making the parties involved financially independent. However, this option can be used by legally married partners. Here, the court will make a ruling based on the following factors:
- Marriage duration
- The earning capacity of each partner
- The career of each partner
- The recipient’s physical health
When paying alimony, you have three options. They include:
- Payable in lumpsum
- Permanent basis
- Temporary basis
It’s important to note that before a court verdict, all circumstances will be considered. Each partner’s circumstances will be considered before making a determination.
Another option you should consider rehabilitative alimony. Usually granted based on a specific period of time, this option is aimed at empowering the parties involved to become self-sufficient. Here, you will get funds to enable you to acquire the necessary skills needed to become self-reliant. This includes going to school or undergoing retraining.
Defined as a one-time figure, lump sum alimony is usually fixed. You get the money once and it cannot be changed. This sum is given in lieu of property settlement. In most cases, the future monthly payment is factored in when granting this amount. The amount must be equal to the total amount you will get from future monthly installments.
In permanent spousal support, you will be paid until you remarry or die. This amount is payable on a monthly basis and cannot be skipped. In some states, this agreement can be terminated if you cohabit with another persona. However, certain circumstances can lead to the adjustments of permanent alimony. Circumstances such as getting a better-paying job, securing more income, or medical expenses can lead to the adjustment of the permanent alimony.
If you work on a full-time basis just to ensure that your partner goes to school, you can apply for reimbursement alimony during your divorce case. Here, you will be reimbursed for the expenses incurred to see your partner through school.
Get the best out of your divorce case. In particular, choose a spousal support option that suits your needs. The above guide will help you understand these options and help you select one that suits your explicit needs.