Can I still collect alimony if my ex goes bankrupt in New York?
Alimony may be a vital part of maintaining your lifestyle following your divorce. We understand how important these payments are and how stressful it can be to ensure that they are maintained over time. That’s why this article will walk you through some of the basics of alimony and how it may be affected by your spouse going bankrupt. Read on and then call a Nassau County alimony attorney today.
How will my ex going bankrupt affect my alimony?
Going through a divorce is stressful enough, but hearing that your ex has filed for bankruptcy is sure to raise a few more concerns. You may be wondering how it’ll affect your alimony agreement, especially because your ex is most likely going to argue about having to make these payments now that they’re bankrupt. Fortunately, alimony is usually considered non-dischargeable, meaning that the court will not forgive your ex’s alimony payments despite their bankruptcy. Regardless of economic status, the following payments are usually non-dischargeable:
- Child support
- Property settlements
How is alimony determined in New York?
Before awarding alimony to one party, a judge will determine if one spouse needs financial support and if the other spouse is capable of giving that support. To help determine this, the judge will consider a variety of factors, including:
- Each party’s income, assets, and debts
- The earning capacity of both parties
- The duration of the marriage
- The age and health of both parties
If you’re requesting alimony from your spouse, then the judge will assess your current income. Alimony is much more likely to be awarded if you’re unemployed or have been unemployed for an extended period of time. However, this alimony is provided so long as you’re working to become independent, and therefore will conclude once you’ve demonstrated the ability to support yourself. Alimony laws can be complicated, especially if you’re unfamiliar with these laws. Call an experienced Nassau County divorce attorney today.
Can alimony agreements be altered?
It’s completely normal to be concerned about the long-term sustainability of your alimony payments, especially because they may be vital to your ability to live. It should be noted that alimony can be altered given a few circumstances. These factors may include:
- If the dependent spouse is financially independent now
- If the dependent spouse receives an inheritance
- If the dependent party wastes their spousal support
Contact our experienced Nassau County firm
The Pollack Law Firm, P.C., rated Nassau County’s “BEST” divorce lawyers and proudly serving clients in Nassau and Suffolk County for more than 25 years, is always available to assist and represent parties in divorce, separation, and all other matrimonial and family law matters. Contact us online or call today to schedule your complimentary case analysis: (516) 938-3330.