If you have never had to experience a divorce, there is a good chance that you do not know what to expect. A first time divorce is one of the most emotionally devastating events a person can face. Unfortunately, the enhanced emotional turmoil combined with inexperience can lead to many mistakes, some of which can affect your financial situation.
For example, if you have been married for several years without your own income, your finances could be unstable at the time of divorce. Because you may be coping with emotional trauma over the end of your marriage, money and self-support might be the last things on your mind. Does this sound like you? Then you need to learn as much as possible about spousal support (alimony). Below are a few basic, but important, alimony points.
Modern times call for modern solutions, meaning that the alimony of yesteryear has enjoyed a few valuable upgrades. Spouses can now choose from several forms of support such as monthly installments or a single lump sum payment. If you do not know what type of alimony you need, a California family law attorney can help you review your situation and make the best choice.
Monthly spousal support works in several ways. Rehabilitative alimony supports you over a fixed period while you learn new skills or go back to school. Reimbursement support involves your ex reimbursing you for efforts on your part to support him or her through school or business ventures. This type of alimony also occurs over a fixed period. In marriages that lasted an especially long time, the court may even award permanent alimony.
From the viewpoint of family law professionals, spousal support is one of the most overlooked areas of divorce. Make sure you take steps to strengthen your financial security if divorce is looming on your horizon.
Source: FindLaw, "The FindLaw Guide to Spousal Support," accessed May 11, 2018