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How Are Alimony Payments Calculated
Alimony payments are funds one spouse pays to support the other after the two are divorced. Each state has its own laws concerning alimony, and it is usually up to a judge to decide whether it is established, how much the payments are, for how long the payments continue and under what circumstances.
For example, a judge may order the husband to pay to the wife spousal support payments in the amount of $1,200 each month from the time their divorce is finalized until and if she remarries. Or, a judge may order the ex-wife to pay the husband alimony payments in the amount of $2,400 per month until he can get training in a profession and re-enter the workforce after staying home with the couple's two small children during the marriage.
How to Figure
Although each state is different, there are basic considerations, taken from which alimony payments are calculated:
- How Many Years Did The Marriage Last?
- Who Made More Money During The Marriage?
- Are There Small Children Involved?
- What Is The Overall Financial Situation?
Some states have a minimum amount of time the couple must be married for in order to qualify for alimony payments. In Texas, for instance, the couple must have been married for at least 10 years before they filed for divorce in order for one party to ask for alimony.
Many people automatically assume women are always the recipients of alimony payments, but that's just not the truth. More and more, the woman is the breadwinner in the relationship, and she is the one who has to pay alimony support support to her ex-husband.
Oftentimes, one parent stays at home to raise the children, opting not to work. In the event of a divorce though, a judge may order the working parent to pay alimony to the stay-at-home parent until he or she can gain skills and re-enter the workforce.
The deciding judge will often look at the potentially-paying spouse's overall financial situation. He will take into consideration the spouse's income, assets and liabilities to decide what alimony to award if any.