If you are getting divorced in New York, you likely have a lot of questions. Many people wonder about alimony, also known as “spousal support.” Read on to learn more about alimony in New York.
What is Alimony?
There are many situations in which couples are left in different financial standings after a divorce. When this happens, the court may require alimony. Alimony is payments that are made from an independent spouse to the dependent spouse to provide them with financial stability.
What are the Different Types of Alimony in New York?
Every relationship is different, as a result, there are different types of alimony. These types are as follows:
- Permanent alimony: This alimony lasts either indefinitely or until there is a change in circumstances. The length of payment can be based on the duration of the marriage. Marriages that last up to 15 years may see alimony for 15 to 30% of the duration. If the length is between 16 and 20 years, the payments may be between 30 to 50% of the duration. If it lasts 20 years or more, it may be between 35 to 50% of the duration.
- Rehabilitative alimony: Spouses who hold off their own careers to support their family may be awarded alimony so that they can receive the education or training they need to get back into their field.
- Reimbursement alimony: If one spouse supports their partner financially while they pursued certain education or training, this temporary alimony can be ordered to reimburse them.
How is Alimony Determined?
When it comes to alimony, the court will have to determine whether alimony is necessary. If alimony is deemed necessary, the court will then have to determine the amount, frequency, and duration of alimony payments. In order to do this, the court will examine some of the following factors:
- Income and property
- Child support obligations
- Child custody arrangements
- The ages of both parties
- The health of both parties
- Each party’s earning capacity
- The dependent spouse’s need for education or training
- The dependent spouse’s deferred life goals
- If there are any tax consequences
- Caring for family members
If you have any questions or concerns about alimony in New York, our firm is here to help. Reach out today to speak with an experienced divorce attorney.
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Matters of divorce and family law should be navigated with the guidance of an experienced attorney. If you need strong legal representation regarding matters of divorce, family law, and estate law, contact the Law Offices of Susan A. Kassel, P.C. to schedule a consultation today.