How is Alimony Calculated
Alimony is the support one provides to their spouse following a separation through a divorce. It is also referred to as spousal support and maintenance. Alimony can be negotiated between two litigating parties by hiring an alimony lawyer in New York or be settled in court.
Factors in Determining Alimony
There is an entire list of factors that provide judges with the guiding principles in determining the alimony amount in the event of a divorce. These factors include the financial status of each spouse, including their current and fixed assets that may be generating revenue, the income potential which indicates any possible future growth in income, and the general contribution of each spouse to the marriage.
These factors were considered lacking the straightforward attribute for determining the final awarding figure, so there is a chance that the figures would tip either way according to the judge’s discretion. A study on many cases showed a great variance in cases with similar circumstances. This meant the situation was quite unpredictable, especially if one does not hire an experienced alimony lawyer in New York. This situation has been one of the greatest causes of couples continuing to live in unhappy marriages, where the unpredictability of support after the divorce can be quite indeterminate.
New York City Law reconciled this for temporary alimony, from the physical separation of the couple leading up to the divorce, by using a formula that ensures the fair treatment of the divorcing couple. Thus, alimony is calculated using the following metrics:
- 30% of the spouse with a higher income
- Subtract 20% of the spouse with the lower income
- Ensure that the total award in alimony does not amount to more than 40% of the combined income of the divorcing couple.
The formula only applies to temporary alimony, and is yet to be applied for the months following the divorce, which essentially means that it does not negate the need for a good Brooklyn alimony attorney. The calculations though appear simple, can be affected by a lot of aspects that are specific to individual couples’ situations.
Alimony lawyers in New York could ease the transition period and allow you to deal with the negative effects of the divorce period. One does not need to feel trapped because of the implications of the divorce. Contact the Brooklyn alimony attorneys at Alatsas Law Firm at (718)-233-2903 today for a free consultation.