Under the formula, alimony is set at 30 percent of the higher-earning spouse’s income, minus 20 percent of the lower-earning spouse’s, as long as the recipient doesn’t end up with more than 40 percent of the couple’s combined income.3 Jul 2011
How do you figure out alimony?
The amount should be decided by both parties. Some common ways of calculating spousal support are to take up to 40% of the paying spouse’s net income (post-child support), less 50% of the amount of the supported spouse’s net income (if he or she is working). Spousal support can be waived by the recipient spouse.
How many years does a person have to pay alimony?
Generally, for short-term marriages (under ten years), permanent alimony lasts no longer than half the length of the marriage, with “marriage” defined as the time between the date of marriage and the date of separation. So, if your marriage lasted eight years, you may expect to pay or receive alimony for four years.
Who is entitled to alimony?
Are You Entitled To Alimony (Spousal Support)? Not every former spouse receives alimony, which is also called spousal support or maintenance. Alimony will be awarded only when a former spouse is unable to meet their needs without financial assistance from a spouse who can afford to pay it.
How long is alimony paid in California?
A general rule is that spousal support will last for half the length of a less than 10 years long marriage. However, in longer marriages, the court will not set alimony duration. The burden will be on the party who pays to prove that spousal support is not necessary at some future point in time.
Do I have to pay alimony if my wife works?
On the other hand, alimony generally isn’t awarded for short marriages or where you and your spouse earn close to the same amount. If alimony is ordered, you will generally have to pay a specified amount each month until: your former spouse remarries. your children no longer need a full-time parent at home.
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