Facing a divorce is always stressful, but it can be more so if you were a stay-at-home parent or earned significantly less than your spouse and may have difficulty supporting yourself and your children after the divorce is finalized. It may be nice to have some temporary financial help. These are some things you should know about durational alimony.
Durational Alimony Defined
Alimony is awarded during divorce proceedings. Its purpose is to help lower-income spouses transition into their single life with a little bit of a cushion. Although some alimony is permanent, awarded until death or remarriage, other forms of alimony are temporary.
So, What Is Durational Alimony? This form of alimony is short-term alimony. When the judge awards this form of support, an end date is also established. The support will end on this date.
Short-term alimony’s time frame is determined by how long you were married. For example, your alimony period will be much shorter if your marriage lasted less than seven years than if it lasted seventeen or more years.
The amount of alimony will be determined by a number of factors, including your spouse’s ability to pay and the number of minor children. Your current standard of living, age and health are also taken into consideration. Your contribution to your marriage, such as homemaking, education and caring for the children, as well as your education level and ability to earn a good living, will also be considered.
Modifications and Termination
Because the purpose of durational alimony is to temporarily help the spouse with lower or no wages, if your economic situation changes, the alimony amount you receive can be modified, or it can be terminated. For example, if you get a job where you earn enough to give yourself and your children the lifestyle you are used to or if you get remarried, a modification or termination may occur. In addition, if your former spouse dies, your alimony will immediately be stopped. You may also request an extension if your circumstances have not changed.
If you are thinking about or are terminating your marriage, discuss durational alimony with your attorney.