Alimony is a court-ordered payment that is awarded to a spouse or former spouse within a separation or divorce agreement. There is a reason behind why court-ordered alimony exists. The purpose is to provide financial support to the spouse who makes a lower, or no, income. Laws about alimony can vary from state to state. This guide will help you learn a little bit more about alimony.
Court-Ordered Alimony: What is It?
The goal of court-ordered alimony is to provide spousal support. This is so that that the other spouse can continue the lifestyle they are used to, despite getting a divorce. No one wants to find themselves in unexpected debt after getting a divorce. The amount of money owed and duration of the payments could be different based on how long a couple was married. Also, they may also weigh the current and potential future incomes of the spouses. There are other factors that will determine the amount and type of alimony. Therefore, these are just a part of the equation.
Based on different factors, the length of time that court-ordered alimony must be paid for could vary. A judge, or both of the parties involved, may set an expiration date for the alimony. This means that the payer is no longer has to financially support his or her spouse. They no longer have to make payments.
In addition to this, there may be other reasons that alimony may end. These may vary from state to state. There could be a termination of alimony in the event that a former spouse remarries, children no longer require a parent at home, retirement, or death. Another possibility could be if a judge deems that the recipient is not making efforts to become self-sufficient.
It is important to keep in mind that court-ordered alimony should not be confused with child support. These are two separate things. For example, the purpose of alimony to support a spouse or former spouse. On the other hand, child support payments are meant to support one or more children from a relationship or marriage that has ended.
You now know some of the basics about court-ordered alimony. The criteria used for determining alimony can vary from state to state. Also, the circumstances that dictate many aspects of the alimony will differ based on location as well as the unique situation of both parties involved. Also, remember that child support and alimony are not the same things.