Determining Spousal Support
In evaluating assets and income to determine spousal support, it is often necessary to appraise property, including income-producing real estate and businesses, involving specialized appraisers in those areas. Other financial resources of the parties are also evaluated, including money in the bank, stock investments, and pension plans. The parties sometimes agree to variations of equitable distribution to bargain for a different support amount. For example, the receiving spouse gets more assets but a lesser amount of spousal support per month. Other issues that are important to determine spousal support are:
- Prenuptial or Postnuptial Agreements between the parties.
- Duration of the marriage.
- Parties’ lifestyle during the marriage.
- Age, health and capacity to work of each party.
- Income, earning potential and professional degrees of each party.
- Amount of time the homemaker spouse was out of the workplace.
- Tax consequences of spousal support for each party.
- Existing spousal support or child support obligations.
Duration of Spousal Support.
Spousal support can be temporary or rehabilitative, or it can be permanent. The courts in New York State have been awarding permanent alimony less and less frequently. It is mostly available in instances of long marriages, where one of the spouses gave up education, career, or work to take care of the family, children, and home. Temporary or rehabilitative spousal support is often awarded to the homemaker spouse to be able to receive education or job training to reenter the workplace and because self-supporting. Spousal support orders may be terminated or modified if the receiving spouse remarries, becomes financially-independent, or if the paying spouse’s financial circumstances change significantly, such as losing employment.
The Law Offices of Leo Mikityanskiy represents clients in matrimonial matters concerning spousal support and alimony in Brooklyn Courts in New York. Contact experienced New York Family Law attorney Leonid Mikityanskiy at our Brooklyn, NY office at (718) 256-3210 to discuss your alimony and spousal support issues today.
Determining Spousal Support
In evaluating assets and income to determine spousal support, it is often necessary to appraise property, including income-producing real estate and businesses, involving specialized appraisers in those areas. Other financial resources of the parties are also evaluated, including money in the bank, stock investments, and pension plans. The parties sometimes agree to variations of equitable distribution to bargain for a different support amount. For example, the receiving spouse gets more assets but a lesser amount of spousal support per month. Other issues that are important to determine spousal support are:
- Prenuptial or Postnuptial Agreements between the parties.
- Duration of the marriage.
- Parties’ lifestyle during the marriage.
- Age, health and capacity to work of each party.
- Income, earning potential and professional degrees of each party.
- Amount of time the homemaker spouse was out of the workplace.
- Tax consequences of spousal support for each party.
- Existing spousal support or child support obligations.
Duration of Spousal Support.
Spousal support can be temporary or rehabilitative, or it can be permanent. The courts in New York State have been awarding permanent alimony less and less frequently. It is mostly available in instances of long marriages, where one of the spouses gave up education, career, or work to take care of the family, children, and home. Temporary or rehabilitative spousal support is often awarded to the homemaker spouse to be able to receive education or job training to reenter the workplace and because self-supporting. Spousal support orders may be terminated or modified if the receiving spouse remarries, becomes financially-independent, or if the paying spouse’s financial circumstances change significantly, such as losing employment.
The Law Offices of Leo Mikityanskiy represents clients in matrimonial matters concerning spousal support and alimony in Brooklyn Courts in New York. Contact experienced New York Family Law attorney Leonid Mikityanskiy at our Brooklyn, NY office at (718) 256-3210 to discuss your alimony and spousal support issues today.
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