Family Law Group Tampa, FL

Alimony: Protecting Your Finances During Divorce

Family Law Group

Let’s say that you’ve worked really hard for most of your life so far. That means you have earned and saved and put in the time required to yield the lifestyle you have. It’s no wonder that in the midst of divorce you may be deeply concerned about how much you could lose in assets. If you’re not careful and don’t have reputable legal help, you may end up suffering financially.

Alimony, otherwise referred to as spousal support, is an obligation by law to provide financial aid to a spouse after separation or divorce. The purpose of alimony is to enable your ex to continue a lifestyle that he or she was used to during the marriage, while still allowing you to live comfortably too. 

Alimony is one of the most contested subjects hashed out in courts across the nation. That’s understandable, considering that most exes want nothing to do with each other for the rest of their lives after parting ways. However, the family court system wants to ensure that both spouses are set up for success. Without alimony, it can leave one person to suffer more greatly. This is especially true if one spouse made substantially more money than the other.

If you and your spouse cannot agree to alimony terms on your own, then you’ll have to attend court over the matter. Factors that the judge are likely to consider when determining an alimony arrangement include:

  • How much each spouse makes in a year
  • The monthly bills and debts of each spouse
  • Which spouse has most custody/visitation for children
  • Costs for daycare, education, or other child needs
  • Standard of living during the marriage
  • Duration of marriage

At The McKinney Law Group, a Family Law Group in Tampa, FL residents can rely on, we can imagine that your top concern is how to protect your assets and finances as divorce continues forward. Consider reaching out to a law firm near you for further assistance and insight.