Alimony plays a significant role after the divorce. It ensures that both spouses can support themselves financially and maintain the standard of living they enjoyed during their marriage after its dissolution. Either spouse that needs alimony can request it during the divorce finalization process.
It is essential that the alimony determined is fair so that neither party’s financial future is put at risk. You must consult a Wisconsin spousal support attorney who can help you understand your state’s alimony laws and guide you. They enable you to take the proper legal steps and ensure that you end up with the settlement you deserve.
What must you keep in mind while negotiating your alimony?
Understand which alimony is suitable for you.
There are different kinds of alimony for various purposes. Based on your circumstances, you must determine the alimony right for your unique situation. The different types of alimony include:
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- Rehabilitative alimony: It is awarded to spouses for the duration until they can attain education, job skills, or training to seek employment and be financially independent.
- Compensatory alimony: When one spouse has made significant contributions, usually financial, to the earning capacity of the other spouse or has sacrificed their career to support the other’s earning capacity, they may be entitled to compensatory alimony.
- Lifestyle maintenance: It is the most common form of alimony that is usually ordered for marriages of longer durations. It enables both spouses to maintain a similar lifestyle that they enjoyed during their marriage.
Keep realistic expectations.
You cannot demand unfair alimony that your spouse will be incapable of paying. For example, if your spouse earns $10,000, you cannot expect $9,000 as spousal support. You must have realistic expectations and settle on a fair amount and duration. Several factors influence the amount of alimony you deserve. They include the duration of the marriage, age and health of spouses, their incomes and capacity to earn, and past qualifications.
Before you agree to any alimony agreement, you must have complete knowledge regarding your and your spouse’s finances. Evaluate your spouse’s financial resources such as individual assets, incomes and expenses, tax returns, insurance, bonuses, and job benefits. Then, understand your own financial needs and costs. Doing this can help establish your spouse’s ability to pay and your need for spousal support.
Your lawyer in Wisconsin enables you to determine the right kind of alimony, amount, and duration. They understand your divorce goals and implement strategies to help you achieve them. Their guidance and expertise can help ease your distress.
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