When you first got married, divorcing your spouse was probably not something you anticipated and planned for. As such, coping with the challenges of separating from each other can often instill intense emotions and concerns about your future. At Brazil & Benske, LLC, we are committed to helping families through the important decisions that come with getting divorced.
One of the possibilities you may be facing is having to pay alimony to your soon-to-be ex. This allotment of money is designed to provide financial support to your spouse, but the amount you are required to pay may fluctuate based off of several factors. Courts will look at aspects like how much money you and your spouse make independently and whether or not your spouse is capable of maintaining a job. There is a chance that you can arrange an agreement that will allow you to discontinue making alimony payments as your spouse becomes more independent.
According to investors.com, you will benefit from doing a bit of your own research and finding out a reasonable and fair amount for alimony. This way, if your spouse requests an unrealistic payment, you can use your research as leverage to seek a lower payment. If you can work out an agreement with your spouse and are in the financial situation to afford a large payment, you may be able to avoid tax consequences associated with alimony by paying a lump sum amount to your spouse. This will also allow you to not have the constant stress of having to pay alimony as the one large payment will be all that is required.
When you are prepared to discuss alimony and are strategic in reaching an agreement, you may be able to minimize the financial stress of having to continually pay your ex. For more information about paying alimony, visit our web page.