Alimony is a legal term that stands for spousal support or maintenance. This entails a fee paid by one spouse to the other after a divorce. (Get pro help from a Maryland divorce lawyer)
This decision is taken in court, whereby one spouse can pay a spouse in need for a while.
In this article, you’ll learn how to qualify for alimony and its various types.
HOW TO QUALIFY FOR ALIMONY
Alimony deals largely with court jurisdiction hence, all requirements are based on the law guiding the city you reside in.
Here are some general requirements for alimony.
- YOU HAVE TO BE MARRIED.
Alimony only deals with married couples who wish to have a divorce. If you never married but lived with a romantic partner, you are considered for alimony.
This is for only legally married individuals.
- LENGTH OF MARRIAGE
Marriages that lasted for a year or less may not qualify for alimony. The reason is that there wasn’t enough time for one partner to grow financially above the other.
In some States, alimony covers marriages that have lasted for ten years, some five years. Also, some states only fix a fee for alimony, notwithstanding the length of the marriage. In all, the length of the marriage is significant.
- FINANCIAL SITUATION OF BOTH SPOUSES
The judge or mediator will request to see both spouses’ financial records and assets.
This is to determine who will be in financial deficit after divorce and how much the other can contribute for a specific period.
- HAVING DEPENDENT CHILDREN
Having dependent children gives room for alimony. If one spouse decides to take care of the children, the other will be made to foot the bills for a stipulated period.
Also, if they decide to share their children among themselves, the judge or mediator will decide who takes the financial responsibility based on their financial records.
TYPES OF ALIMONY
- REHABILITATIVE ALIMONY
This covers the support paid regularly to an ex-spouse for a while until he or she gets financially stable to care for himself.
After the stipulated period, the alimony is terminated.
- TRANSITIONAL ALIMONY
This covers payment to a spouse, made regularly or once until he or she settles in a new location after a divorce. This covers the expenses incurred during divorce proceedings.
- PERMANENT ALIMONY
This type of alimony is rare. This covers a long-term payment to a spouse after a divorce; this can be due to the health status of the dependent spouse.
This type of alimony covers marriages over ten years before the divorce. Here, one spouse depends solely on the other and hence may not have the ability to be financially independent.
In all, the judge or mediator stipulates the duration and the terms for payment.
No alimony lasts for a lifetime; in the case of death or remarriage, or when the spouse paying the alimony reaches retirement age, the alimony will be terminated.
Note that alimony depends on state or federal laws. Hence, judgment may differ.