How Is Alimony Calculated?
Spousal support, or alimony, is awarded by the court after examining the financial conditions of both spouses. It is granted to help one of the spouses financially if they cannot support themselves. Contact divorce lawyers Madison to get legal help in seeking alimony.
Spousal support or alimony is awarded in two conditions.
- When both spouses are on the same page and have reached an alimony agreement.
- If the judge feels the need to award alimony after evaluating all the necessary factors and the spouse’s financial condition.
Alimony is granted to spouses who have lost employment or have a meager income. Spousal support helps in providing help to people in need.
Determination of alimony amount
In deciding the amount of money to be awarded as alimony, the jury considers the following factors with fair evaluation:
- The judge will check the financial condition of the spouse seeking support through alimony. A further evaluation regarding the employment abilities of both spouses also takes place. The court checks if the spouse can earn money and has a sustainable income.
- The judge will also take instances where the spouse asking for alimony has left their job to tend to the family and child. The judge checks whether the other spouse was earning a decent amount of income in the meantime.
- If the spouse asking for financial support owns an asset that is highly valuable and has more worth than the other spouse’s income, they will not be awarded alimony.
- The ability to pay for spousal support is essential in determining the amount. The jury will ensure that the person paying the alimony can maintain the proper standard of living while paying the other spouse. If the paying spouse cannot afford to sustain a decent living with their income, you will not get spousal support.
- The judge will also consider the duration of marriage while determining spousal support. No alimony is granted if the length of the marriage is two years or less.
- The judge will consider the monthly income of each spouse.
- The expenses of the spouse and all the requirements are checked to calculate the amount of alimony.
- It is evaluated if the alimony could help maintain a similar lifestyle before the divorce. Suppose it is impossible to keep the marital living standards under the given circumstances. In that case, the court finds a solution to allow the spouses to share the financial suffering equally.