Divorce and Alimony Formula

In divorce, a common issue is, "what is the alimony formula." Well, there really is no set alimony formula for divorce. This really is in complete contrast to son or daughter support, which will be determined based on a particular system in each state. Alimony is based on factors and those factors are determined through divorce negotiation or with a divorce judge success . But, there's no alimony method offered to your divorce lawyer or you to determine in advance what alimony will soon be paid in your situation. 

What does a divorce court examine to determine alimony? These problems do vary by state. But, there are also several alimony factors that are common from state to state. So, while there's no specific alimony formula for you to depend on, there are alimony elements that you can look at to help you know what the alimony might be in your situation. 

In divorce, a few of the alimony elements a judge might take a look at are the following. First is the length of your relationship. If the parties have been married for one year, the court's attitude towards a request for alimony is likely to be different than if the parties have been married for twenty years. It is extremely hard to plug this issue in-to an alimony forumla to look for the alimony volume, since the length of marriage varies therefore much in all divorces. 

Yet another factor influencing the award of alimony is employment status. Obviously, if the spouse seeking alimony has been unemployed or underemployed for a number of years to care for young children, the home, or the spouse, that is one factor that can militate in that spouse's favor if he or she is seeking alimony. On-the other hand, if that spouse has the power to get work that will more than adequately meet his or her desires, the court may possibly think a differently about awarding alimony to that party. Other factors that are considered closely with this particular issue include degree of knowledge, job experience, the age of kiddies within the house, and work history. 

A major factor that can influence an of alimony is the level of property to be maintained or separated by the parties. If the partner seeking alimony has been a stay-at home parent, but will have signifcant assets after divorce or has individual assets, such as for instance a trust fund, the court's attitude towards the award of alimony will be affected. The judge will surely see a for alimony under these circumstances much different when compared to a request made by a person who is receiving no resources in the divorce o-r who does not have any individual property. 

The fitness of the party seeking alimony is really a key issue that could affect a decision in awarding alimony. If the spouse seeking alimony has a debilitating health that impacts whether or how much they are able to work, the court will not desire to impoverish that celebration after divorce and the court will become more prone to use alimony to address a minimum of essential living requirements. 

An added element that should be considered by the divorce court and by the parties, is the taxability of the alimony payments. In most instances, when there is no specific provision to the opposite, spousal assistance payments are taxable to the recipient and tax deductible to the payor consumers . The tax advantage obtained by spreading out financial wealth within this fashion can be important and ought to be discussed in depth together with your divorce attorney. 

One problem that is not generally considered by the court, but must be discussed with your divorce attorney, is that alimony payments are, in common, not dischargeable in bankruptcy. If you have any possibility the party who is to pay alimony will be filing for bankruptcy, the divorce lawyers will discuss very hard on both sides to increase the benefit to their client in divorce. 

It will therefore be clear that in divorce, there might be no easy alimony forumla, no matter what state you reside in. It's impossible to put these and other elements into a mathematical equation to reach at a "correct" alimony formula. It is necessary that the divorce court, or the divorce attorneys review how these various and different factors affect both parties in the divorce and then reach an answer that involves most of the divorce problems, including property settlement and alimony edmond oklahoma divorce lawyer . They can't just create an alimony method that would benefit all parties.Edmond Divorce & Family Law Center
1050 E. 2nd St. #219
Edmond, OK 73034
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