What is Alimony? What are the Factors used to Determine Alimony?

What is Alimony? What are the Factors used to Determine Alimony?

When a marriage ends, it is not always easy for the two parties involved to see eye-to-eye. With the care of children or financial obligations that need to be paid off, many couples are forced to deal with the collection of their debts owed. When one party is unable to support him or herself financially following a divorce, alimony may be an option. Alimony, also referred to as spousal support, is a form of financial aid one spouse pays to the other spouse in order to help them maintain their lifestyle. Alimony payments are determined by considering the length of the marriage and the difference in income between the two spouses.

When a person divorces, they may be entitled to receive alimony payments from the other person. Alimony payments cover the financial needs of the recipient while also providing a stronger income for both parties. Alimony is typically used to cover expenses such as health care, educational costs, and housing. One factor that determines how much alimony to award is the duration of the marriage. If the spouses were married for less than five years, then they are mostly not eligible for alimony. You can easily find out the scope for alimony or spousal support in your case by consulting with a Newburyport divorce lawyer.

Let us now see what factors are considered for determining the alimony.

  1. The length of the marriage

When a marriage ends, one of the parties may be dependent on the other for financial support. It is important to determine what the length of the marriage is before determining how alimony will be paid. For marriages that have lasted less than ten years, it is likely that temporary spousal support would be ordered in addition to child support. There is no set formula that establishes how much can be paid in alimony per month, but there are guidelines for what might be considered fair.

  1. The jobs of both parties and sources of income

A lot of factors need to be considered before determining alimony payments. However, what is most important are the job type and sources of income for both parties. This information can be used to determine the amount of money that will have to be shared. For example, if one party is single with no children, they may not have an obligation to pay alimony because the other party may have a higher salary.

  1. The liabilities and needs of each party

Alimony is determined by the needs and liabilities of each spouse. The spouses’ need for support and their relative assets and liabilities will often dictate how much support is given. Suppose one party has a disability or sickness that renders them unable to work or brings in insufficient income. In that case, alimony may be needed to provide financial assistance until they are able to return to their job.

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