The purpose of alimony, in layman’s terms, is to retain the same standard of living after separation. The law uses its own metrics to determine if the parties are entitled to alimony and to work out the exact figure. A judge evaluates this agreement before giving verdict.
Provo-based alimony lawyers of BuhlerLawOffice.com provide these tips to help you work out a mutually beneficial alimony negotiation with your estranged partner.
EVALUATION OF SPOUSE/PARTNER’S RESOURCES
Critical financial decisions need plenty of information and data. Whether you’re getting or paying alimony, you must have a complete evaluation of your spouse’s resources to negotiate successfully. This is to avoid a feeling of overpaying support or receiving support that isn’t adequate for your needs.
Even in cases where it’s evident who will be forking out the support, a full financial disclosure is mandatory. The receiving spouse’s needs and the paying spouse’s capacity can be determined only if there’s a full financial disclosure. This may include information about individually-owned assets, royalties (for artists), bonuses, daily expenses, and more.
Though men often pay alimony, it can be anyone who was earlier the sole bread winner or contributed a higher share into the family income.
EVALUATING NEEDS AND EXPENSES
Keep a report of monthly income and expenses; use that as a base to determine the required alimony. The negotiations will start once you work out the required expenses, factor out the unnecessary expenses, and determine a support figure. There is no standard measurement for this, so it is your discretion to work out a fair and mutually beneficial amount.
KEEPING IT SANE AND HEALTHY
Couples often try to resort to a game of one upmanship in all their vindictiveness when it comes to alimony. They make it a bitter game of trying to extract the maximum out of each other even at the expense of the other’s discomfort. This doesn’t help reach a peaceful and mutually beneficial settlement, as there will always be bitterness at the core. This situation should be avoided if there are children involved. Keep the agreement mutually fruitful, considerate, and fair.
Alimony settlement may be stressful for both parties, but be civil about it. Never let bitterness get the best of you. Knowing the family and child support and divorce laws makes the intimidating situation less stressful. When all else fails, you can always hire a mediation lawyer or an experienced attorney to help you reach a beneficial and stress-free alimony settlement.