New York Spousal Support/Maintenance Attorney
Spousal support, also known as maintenance or alimony is a rehabilitative support and the purpose of it is to help the receiving spouse gain financial independence after a divorce.
The court awards spousal support based upon a statutory formula. In addition, there are several additional factors that the Court takes into consideration such as:
1) The standard of living during the marriage;
2) The reduced or lost earning capacity of a spouse as a result of having forgone or delayed education, training, employment or career opportunities during the marriage;
3) The age and health of the parties;
4) The present or future earning capacity of the parties, including a history of limited participation in the workforce; and
5) The need of one party to incur education or training expenses;
In a divorce each spouse must make a complete financial disclosure to the other spouse and prepare a Statement of Net Worth outlining assets, expenses and liabilities.
CALCULATING SPOUSAL SUPPORT/MAINTENANCE:
When deciding the amount of spousal support and how long a spouse should receive support, the court considers the following:
1) length a marriage;
2) age and health of parties;
3) present and future earning capacity;
4) income and property;
5) eligibility to become self-supporting;
6) need for education or training expenses;
7) where the children live;
8) need to pay additional expenses;
9) equitable distribution;
10) tax consequences.
Spousal Support ends on the death of either party; remarriage of either party; a date specified in an agreement; or a date determined by the court.
When the court awards spousal support, it is in an amount that is fair under the circumstances.
In some situations, a court can award temporary support while a case is pending.
The proper spousal support whether you are seeking it from your spouse or you’re your spouse is seeking such payment from you is an essential component in a divorce action and should not be overlooked.