If you are being awarded alimony, marITal assets may not be included.
A recent court case in the Fifth District Court of Appeals dealt with whether a court should take into consideration a parties assets when determining an alimony award. In Beal v. Beal, the family law court awarded the Wife $300 a month in bridge the gap alimony. The family law court also awarded the Wife $4,000 from the refinancing of the marital home. The family law court stated that Ms. Beal would have the funds from the settlement agreement to help establish a new residence.
The appellate court found that this was inappropriate. The appellate court stated that, while equitable distribution of assets can have an influence on alimony, a former spouse is not required to deplete her assets to provide for her living expenses. The appellate court remanded the case back down to the family law court and directed the family law court to reconsider Ms. Beals claim for alimony.
If you are considered your alimony awards or require legal assistance in other areas of Family Law you may always contact Damien McKinney of The McKinney Law Group to discuss your case further. He can be reached by phone at 813-428-3400 or by e-mail at [email protected].