January 4, 2022

Financial Support During and After a Divorce

The process of going through a divorce can be a difficult and stressful experience, regardless of the circumstances surrounding the separation, and in divorce cases where one spouse is fully or partially dependent on the other, or there are children involved, financial support will likely need to be determined.

Alimony

When you and your spouse have a significant income disparity, alimony may be awarded to help you support yourself if you have much lower earnings. There are several different factors used in determining the amount and duration of the financial support to be paid, and the laws differ from state to state. In Florida, spousal support falls into two broad categories: temporary and permanent.

Temporary alimony is spousal support that is paid for a limited period of time and is meant to assist you while you are working to become self-sufficient. In many cases, temporary alimony can be awarded to help you support yourself through the actual divorce proceedings.

If your marriage lasts for less than 17 years, you may be eligible for durational alimony Tampa, which provides financial support for a set length of time that is determined by a judge. In the case of rehabilitative alimony, a judge determines the length of time that payments will be made based on how long it is estimated to take for you to become financially self-sufficient.

Much like it sounds, permanent alimony is a monthly payment to a former spouse to sustain a standard of life that they are unable to maintain on their own. You may be awarded permanent alimony if you are unable to find future gainful employment due to advanced age, medical conditions or disabilities.

Child Support

In divorce cases where full or joint custody of children is assigned, child support can be paid to the custodial parent to assist in covering the financial costs associated with raising the child or children. In most states, the courts use a set formula based on income and child care costs to determine the amount you may be awarded, and this usually comes in the form of regular, monthly payments.

No two divorces are the same, so it’s important to know and understand the financial implications of your divorce, as well as what support you might be entitled to for the purpose of parenting or maintaining the quality of life that you and your children may have grown accustomed to.…