Negotiating an alimony settlement can be a challenging part of the divorce process divorcing couples have to resolve. If you are dealing with an alimony award during your divorce, it is helpful to know how to negotiate an alimony settlement.
Alimony can be awarded in different amounts, for different purposes and for different durations. This can make alimony a key issue to negotiate during a divorce.
Negotiating an alimony settlement
One of the first things you should consider doing to prepare for alimony negotiations is to know your finances and what it costs you to live. If you know the range of what it costs you to get by versus enjoying a higher standard of living, it will help you develop a negotiating position of what you can give up and what you cannot. Knowing your earning capacity and budget are also helpful.
It is also useful to do your homework and know the law and trained guidance through alimony negotiations can be valuable to have. You should not agree to alimony out of court or casually waive alimony either. It is also a good idea to manage expectations because alimony is not awarded in a standard way like child support, for instance.
If alimony is awarded, it is also important to plan for the unexpected and contingencies such as if the supporting spouse does not pay alimony. Finally, keeping emotions out of what is normally a contentious issue is a good idea. The idea of an alimony award is often acrimonious. Being prepared can be key to negotiating any alimony award.