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3 Considerations For Settling Your Alimony

No matter how good the nature of your relationship is with your spouse in the midst of a divorce, there is nothing easy about personally determining and negotiating the terms of the divorce This negotiation problem arises in a majority of divorce cases, seeing as most of these divorces end in settlement without ever seeing…

February 28, 2018

No matter how good the nature of your relationship is with your spouse in the midst of a divorce, there is nothing easy about personally determining and negotiating the terms of the divorce This negotiation problem arises in a majority of divorce cases, seeing as most of these divorces end in settlement without ever seeing a trial. Many methods, such as dispute resolution through mediation, are available to couples who do not want to see the courtroom.

While there are many advantages to avoiding the courtroom and taking care of your divorce on your own terms, there are many factors you should be considering in the process. Specifically, the issue of alimony may be one of the most difficult barriers you and your spouse will have to overcome in the negotiation of your divorce settlement.

While a mediator can help to facilitate the process and discussion, don’t forget to keep true to your financial situation. Today, we’re looking at a few of the considerations you should take into account when you’re settling your alimony.

  1. Consider Your Future

There are so many things to consider when it comes to negotiation of your alimony that it can be overwhelming. One of the most important things to consider, however, is your financial future.

Will you need to go back to school upon losing the financial support of your spouse? Will you be able to get a job, or do you have to stay home to take care young children?

On the other hand, if you are the earning spouse, you will want to keep in mind the extent of how much you are able to give. While it is important to be reasonably fair to your spouse, you will also want to keep in mind what you need after the divorce and the sacrifices that your spouse has made, if any, to give you the professional experience you have today.

  1. Remember that Settling Out of Court Doesn’t Work for Every Couple

Just like no two couples are the same, no two divorce cases are the same. While working with a third-party mediator may be good for couples that are able to be open and communicate about their needs, not all spouses face the same ease. Spouses that are worried about the other spouse’s hiding of funds and assets may want to consider taking the case to trial instead.

In trial, the judge will be able to get all of the information the court needs to make its decision in regard to alimony. Each state has a different law that determines what is paid out and what can be received in alimony payments. While it doesn’t seem ideal, taking a case like this to trial will serve to be, in the long run the most beneficial.

In Colorado, for example, goes by the standard that measures the length of the marriage and, accordingly, disperses alimony in response to that. If the couple’s combined gross monthly income is under $75,000, there is a temporary alimony amount presumed to be awarded by the court regardless of the length of the marriage. In this situation, the court will offer the amount equal to 40% of the higher income spouse’s gross monthly income minus 50% of the lower income earner’s gross monthly income.

  1. Remember, It’s OK to Seek Help

It may seem obvious to some, but there is no iron-clad way to negotiate settlements- especially in divorces where emotional and mental stress is at an all-time high. An experienced family lawyer will be able to help you figure out what you will need in the future and will be able to help you craft an offer that can help to fulfill those needs. Additionally, an experienced attorney spot a deceptively good alimony settlement offer, giving you a much-needed peace of mind in a time of such turmoil.

With so many things to consider when negotiating and understanding your alimony settlement, it can be hard to keep track. If you need advice about the financial future of your divorce, contact our family law specialists today to learn more about what we can do to help.

Photo by Nik MacMillan on Unsplash

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