Divorce is a roller coaster ride and one of the loops former spouses will eventually encounter is handling the financial impact of the union’s termination. Halving two sources of income to one is a drastic change in one’s lifestyle and might pose a challenge after the divorce. This is why the courts use alimony to ensure the financially dependent party can support an independent life after divorce.
Different types of alimony
The court may grant alimony to either of the former spouses and it may fall under any of the following types:
- Rehabilitative alimony, which has a set period and amount for the obliged spouse to provide the receiving spouse. The court usually awards this to the spouse who has to obtain education or acquire skills to eventually get employed. The receiving spouse will continue receiving alimony until they have completed their education and become employed.
- Permanent alimony, which the court commonly awards when the divorcing spouses were in a long-term marriage. The state of Florida would consider a marriage long-term if it was between 7-17 years.
- Bridge-the-gap alimony which assists former spouses with their transition from being married to singlehood.
So how will the court decide which alimony they will grant? Here are factors they consider when deciding on alimony.
Factors commonly considered
There is no one formula for determining alimony. Aside from the fact that there are different types of alimony in Florida, several factors also make up the judge’s decision. Florida laws list down the circumstances they consider when deciding the alimony.
- The standard of living during the marriage
- The duration of the marriage
- The ages of the spouses
- The physical and emotional conditions of each spouse
- The financial resources of each spouse
- The capacity to earn and the educational level of each spouse
- The assets and other sources of income of each spouse
- Any contribution made by each spouse at home, such as homemaking, child rearing, supporting the education or career building of the other spouse
Alimony is not a one-way street and courts consider multiple factors before awarding them. It is helpful to familiarize yourself with these factors.