Alimony Payments
Alimony payments can be costly when going through a divorce in Tennessee and after the divorce is final. There are many factors involved in deciding who pays, if anyone.
How does the court calculate spousal support? Usually the judge will decide if the ex-spouse should receive alimony and then will set reasonable monthly payment. However, what may seem reasonable to the court, may affect your future and your finances for a very long time.
Types of Alimony Awards
Permanent Alimony paid until the recipient remarries or the former spouse making the payments dies.
Temporary Alimony is usually for a specified time.
Rehabilitative Alimony is for a fixed period of time to help the person with training or education to become self-sufficient.
Lump Sum Alimony is a single payment and is taxable like income.
Reimbursement Alimony allows one party to reimburse the other for specific expenses during the marriage; they can be a lump sum or extended over time.
Although many people believe that only the wife receives alimony, however, women receiving alimony is not exclusive, men also receive alimony payments.
An experienced divorce lawyer can help you calculate alimony by several factors:
- Age
- Gender
- Time Apart
- Education
- Health
- Tax Liabilities
- Years married
- Minor children involved
- Why the marriage ended
- Spouses financial ability to pay
There are deductions that can help with the entire process and if both parties agree to negotiate the terms and payments, this will eliminate having the judge set a ruling.
Support or payments can go to the spouse with the least income and will assist in covering some of their living expenses. Clarify this with your attorney and know the facts before you file for support.