Alimony is based upon the premise that marriage is a partnership and that the termination of that partnership may require the shifting of a certain amount of income from one party to another.
Michael G. Brady is a Seminole Alimony Lawyer who has spent many years practicing Florida Alimony Law. With decades of experience in Seminole Alimony law, he serves the entire Seminole-Largo, Florida region. As the area’s premier Seminole Alimony Lawyer Michael has helped many receive the income that they deserve.
Alimony calculations are dependent upon the proper qualification of the need of the first spouse and the ability to pay for the second spouse. My financial background and education allow me to understand the complex calculations that may be necessary to determine “need” and the “ability to pay.” These two factors are among the essential elements of the alimony statutes; a proper understanding of the calculation of income and allowed deductions and expenses is essential to making sure that the alimony required in your case is fair.
Alimony is designed to assist the economically weaker spouse in making the transition from marriage to life as a single person by providing income to them after their divorce in Florida.
Requirements for a Seminole Alimony Lawyer to arrange for your alimony
The first and most basic requirement for any alimony award is that the Court must find one party is in “need” of alimony and that the other party has the “ability to pay” alimony. Unless those two tests are positive, then no alimony should be awarded by the Court. The complexities involved in calculation alimony can include the issue of what is the actual income of the parties, what sort of income will the parties have post-divorce and what impact will other financial assets or liabilities have the parties after the marriage is over.
We work extensively with our clients to make sure that the income for either party is properly reflected and calculated in every case. However, since not all marriages are the same, there are multiple types of alimony that the Court can award.
The amount and type of alimony is strictly determined by your individual situation and is very fact sensitive. Some factors that go into alimony award determination include the history of the marriage, the age of the parties, the educational background, and employment history of the parties. Other factors include adultery, the responsibilities each party will have with regard to any minor children they share, and the relative educational backgrounds of the parties.
Once the Court determines that there is a “need” for alimony and an “ability to pay” alimony, then the question becomes what type of alimony should be awarded and, in what amount. Recently, the Florida Legislature modified the statutes to give exact definitions for what constitutes a short term, moderate-term and a long term marriage.
Based upon the consideration of all of these factors and issues, Alimony can take many forms including:
Permanent Period provides for ongoing monthly payments until the death or remarriage of the recipient. Recent changes in the law allow modifications in cases of “cohabitation in a financially supportive relationship,” even without remarriage.
Durational Alimony is awarded to provide the party with financial assistance during a period of time following the marriage and may be modified or terminated. Durational alimony may not be awarded for a period of time exceeding the length of the marriage.
Rehabilitative Alimony is alimony paid to allow the spouse to gain new educational and/or employment skills so that they can support themselves. Rehabilitative Alimony awards require that a specific “plan” be submitted to the Court for the nature, length, and costs of the education or employment training necessary.
Bridge the Gap Alimony is an alimony designed to carry a spouse over for a shorter period of time so that they can reestablish themselves. The new statute now specifically limits the period of time that Bridge the Gap Alimony can be awarded to two years.
Lump-Sum Alimony is awarded by a Court when ongoing monthly payments are not possible or are not likely to be made in a timely manner.
While alimony is usually tax-deductible to the payer and taxable to the recipient; that can be changed by agreement between the parties, so long as the proper notifications are made to the IRS. We have used the transfer of the tax liability for the alimony payments as a way to solve complicated alimony claims under terms that each party can agree to in a mutually beneficial way.
It is important to remember that your alimony issue has the potential to affect your financial situation now and long into the future. By taking advantage of the knowledge, experience, and training of a Certified Divorce Financial Analyst, you can avoid long-term financial pitfalls, save money now and develop a future financial forecast that will protect you and your family.