Learn About The Different Types of Spousal Support
In situations where one partner is in a much more stable position, financially, than the other, alimony, also referred to as spousal support, can come into play. Alimony refers to the act of one former partner paying the other a specific sum of money, often monthly, after a divorce or legal separation. When determining who qualifies for alimony, it varies from case to case. Some considering factors include whether the partners were involved in a shared business, the level of debt each individual is in, as well as the income each person would be receiving after the divorce. Once alimony is deemed necessary, there are a few different types that could be involved. Check out the varying types of alimony below:
Rehabilitative Alimony: This type of spousal support is used in cases where one spouse provides financial support to the other while they are in the process of becoming employable. There isn’t necessarily a set duration on the alimony payments, however, usually there is a tentative period set where the judge then reassess the payments. Examples of when rehabilitative alimony is an option would be if one of the former partners is in the process of going to school or until the partner is able to find employment.
Reimbursement Alimony: In situations where one partner has supported the other while they received their degree, and are now making more money as a result of that, the supporting partner can be awarded reimbursement alimony after the divorce. This is typically paid to the former partner over a period of time, as opposed to a lump sum.
Lump Sum Alimony: Rather than dividing property or a specific asset that one spouse doesn’t want, that spouse may be required to pay the other a one time, lump sum payment instead. The benefit to this kind of alimony is that the spouse is able to fulfill his or her alimony payment at once, without being held accountable for a length of time.
Permanent Alimony: If one of the spouses has a disability that prevents them from ever returning to work, ultimately hindering their ability to receive an income, they may be eligible for permanent alimony. This form of alimony may also be applicable in situations where one of the spouses has stayed home and raised the children, making it difficult to re-enter the workforce. Permanent alimony is often ongoing until the ex remarries or passes away.
To learn more about the different factors associated with spousal support, please contact a divorce attorney from Carr Saglimben LLP. Our team looks at all the circumstances related to both of your situations and from there devises a strategy that will hopefully make your divorce as financially stable as possible. We will assess your case and work to find a solution that works for you. We proudly serve the Olean, NY; Wellsville, NY; Bradford, PA; Warren, PA; and Chautauqua, NY areas.
