Divorce Alimony: Providing Spousal Support
Basics of Alimony
Alimony basically refers to payment of a specific amount of money to a spouse as spousal support. When there is a significant gap in the incomes of both spouses, the one who has a higher income is ordered to pay alimony to the other. Initially, the husband would be asked to pay alimony to the wife. However, with women too now earning on par with the husbands, the amount can be paid by either of them.
The condition of divorce alimony has been laid down by the law in an effort to support the spouse with a lower income. Due to the split, it can become difficult for him or her to sustain independently. Thus, this amount is a great form of financial assistance provided to maintain the standard of living, which prevailed when the couple was together.
Determinants of Alimony
There are several factors that determine the amount of alimony to be paid to a spouse. The court usually considers the following factors:
1. Period of marriage.
2. Present as well as future incomes of both the partners.
3. Any other source of income - individually or jointly.
4. Respective ages of the husband and wife.
5. Financial contribution of both of them towards expenses like home, education, health etc.
6. The impact on each of them due to change in the financial balance. Factors like child custody too make an impact and the alimony can be affected due to it.
7. Non-monetary factors like physical, mental and emotional condition of each of them.
Form of Divorce Alimony
There are many ways in which a spouse can pay the divorce maintenance. The major forms are as follows:
1. Permanent: This refers to payment of a specific sum of money regularly (mostly monthly) till the recipient party dies. Sometimes, this type of payment can be suspended in case the recipient starts staying with other person.
2. Temporary: As the name suggests, this type of alimony is paid just for a short span of type (few months or 1-2 years). This option is considered when both the partners have an equal income and only due to certain reasons there is a decline in earnings.
3. Lump sum: This refers to a one-time payment instead of regular compensation module. In this scenario, the donor usually has to part with an enormous sum of money and must hence consult a tax or financial expert to understand all the finer nuances.
4. Rehabilitative: This refers to payment of a specific sum to the partner so that he or she is able to build a career in order to become self-supporting.
In case of the death of the recipient, the payment must be stopped. Also, a spouse cannot claim alimony if both share the home. They must stay in completely different houses.
These are just the central points of divorce alimony and couples must be aware about them before filing for a divorce.
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