What You Need to Know About Alimony in New York
The divorce and separation process has many factors to consider. Alimony is one of these factors and is known to be one that can cause heated conflict and emotions. Sometimes, one of the parties thinks that he or she has done more for the marriage than the other and thus deserves more alimony than they were awarded. Whatever the case may be, courts will weigh various factors to come to their determination. It is important to retain an experienced and strong-willed New York divorce attorney for this process. Contact The Pollack Law Firm, P.C. for the representation you deserve.
What is the purpose of alimony in New York?
Alimony was created as a way for the dependant spouse to maintain the same standard of living as they did during the marriage. In most cases, New York courts will require both parties to disclose their financial status and statement of net worth to be used in their alimony considerations.
How is alimony calculated?
In New York, the court must abide by a formula to determine the proper amount of alimony. Courts will evaluate income, separate property of spouses, marital property, and tax consequences. Additionally, the longer the marriage, the greater the spousal support award. If children are involved and one of the spouses has physical custody of the children, that can affect the amount of alimony calculated.
New York courts also consider the future earning capacity of each spouse and the need of one party to incur education or training in order to fulfill their career goals. Also, if one of the parties delayed their education opportunities in order to benefit their spouse’s career or academic goals, or stayed home with their children, that can also impact spousal support.
Can spousal support determinations be modified later on?
In some cases, alimony can be adjusted. For example, if the dependent spouse becomes financially independent or surpasses the independent spouse financially because of their career, then modifications to alimony plans may adjust. There are many other factors that can change alimony arrangements including:
- If the dependent spouse gets an inheritance or monetary award;
- If the dependent spouse becomes self-supporting;
- If one of the parties wastefully spends their spousal support; and
- If one of the parties runs bills on the house or sells items.
When does alimony end?
Spousal support can end for various reasons. Some may include:
- The death of either party
- The remarriage of the receiving party
- A date agreed upon
- A date determined by the court
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 22 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.