Divorce can take a financial toll on you, your to-be former spouse, and the lives you’re trying to build post-divorce. Quite often, one spouse will sacrifice their career in exchange for being the homemaker. Therefore, it can be quite difficult to find employment that can support your lifestyle when you’ve been out of the game for so long. So, that’s where alimony comes in. Alimony can be awarded in a number of ways. Commonly, it will come in one of two forms: a one-time lump sum, or monthly installments. However, here at Robert J. Reeves P.C., we want you to understand all of your options. That way, you’ll know what to expect and how to begin planning for the future, financially.
Anderson Alimony Options: The Four Types
There are four types of alimony. Typically, the type of award you receive will be based on your former living conditions, and what role you played within the family.
So, the four types of alimony are as follows:
- Periodic: Monthly installments for an indefinite period of time.
- Lump Sum: A one-time payment to be made to your former spouse.
- Rehabilitative: Monthly installments that allow for the former homemaker to re-enter the workforce, as well as establish financial stability, and a home.
- Reimbursement: In the event that one spouse previously took on some expense for their spouse, such as schooling, reimbursement alimony is an option the court might use to re-pay the spouse for those expenses.
Most frequently, the judge prefers to award periodic. This type of award has no specific end date. However, it does cease when (or if) the receiving party remarries. In addition, it has the potential to end if that spouse experiences a large financial change— such a significant raise. For any other type of alimony, there must be special circumstances. For more information regarding alimony, or other aspects of divorce and family law, please contact our Anderson family law attorneys today.