How Is Alimony Calculated In Florida?
If you’re going through a divorce in Florida, you might be concerned about alimony. If you’re the “paying” spouse, you’re probably worried about handing over a large portion of your paycheck each month in spousal support. Or perhaps you’re a “receiving” spouse, and you’re suddenly without the financial support of your ex. Whatever the case may be, it’s important to gain an understanding of alimony in Florida so you can plan your future effectively.
While internet research is always a good step, it makes sense to get in touch with a qualified divorce attorney as soon as possible. These legal professionals can assess your unique situation and determine how alimony might be handled. Remember, each divorce is different, and there’s no easy way to find out exactly how much alimony you’ll be paying or receiving through internet research alone.
A Basic Guideline for Alimony Calculations
If you’re looking for a quick and easy way to calculate your alimony payments, consider the guidelines set forth by The American Association of Matrimonial Lawyers. Under these guidelines, alimony is calculated by subtracting 20% of the receiving spouse’s income from 30% of the paying spouse’s income.
For example, let’s say that the paying spouse earns $100,000 per year, while the receiving spouse earns $50,000 per year. In this situation, you would subtract $10,000 from $30,000, leaving you with $20,000. This amount would then be distributed in monthly installments throughout the year. Of course, the receiving spouse’s income might be zero – especially if they were a stay-at-home parent during the marriage. In this case, zero is subtracted from the payer’s income, leaving you with a flat amount of 30% of their income.
How Long Will Alimony Last?
If you’re wary about paying these sums for the rest of your life, it’s important to understand that permanent alimony is relatively rare in Florida. There are many types of alimony, including:
Temporary spousal support is awarded during the divorce proceedings, while bridge-the-gap helps spouses cover expenses while waiting for certain financial developments, such as a real estate sale. This latter type of alimony only lasts a maximum of two years. Rehabilitative alimony is more common, and it gives spouses financial support while they make the transition to single life. This might include going back to school to get certain job skills. Again, this type of alimony is not permanent. Durational alimony only lasts as long as the marriage, and it does not require spouses to reacquire job skills during this period. Permanent alimony is now quite rare, but it may be more common among older spouses.
Enlist the Help of a Qualified Attorney Today
For help from a skilled Orlando divorce attorney, contact Steve W. Marsee, P.A. Over the years, we have helped many spouses handle every aspect of their divorce, including alimony. Whether you’re set to receive or pay alimony, we can guide you towards the best possible outcome. With our help, you can handle this financial matter efficiently, ensuring the lowest possible impact on your post-marriage. Book your consultation today.