If you are getting divorced in Gilbert, Arizona, there are many questions and concerns that you might have. One of the questions that divorcing individuals often ask is whether they will be entitled to receive alimony or be required to pay alimony. Alimony is money paid by the higher-earning spouse to a lower-earning spouse after a divorce. Alimony may be court ordered, or both parties may agree to a specific amount with the help of an alimony lawyer like the Zachary Law Group in Gilbert, Arizona. If you believe you may be entitled to alimony or if you think that your ex might seek alimony in a divorce, you may want to speak to the Zachary Law Group, an alimony law firm in Gilbert, Arizona.
There are many reasons why you may want to seek alimony during a divorce. If you stayed home to care for the kids, you may be entitled to seek alimony. If you supported your spouse in his or her career, you may be entitled to receive alimony. If you gave up work or school opportunities due to your marriage, alimony may be able to help you get the work retraining that you need to re-enter the workforce. Unlike child support amounts which are determined based on strict state guidelines and formulas, alimony is awarded based on the decision of the judge or based on the agreement that divorcing couples can reach outside of court. Alimony law can involve many questions or complex considerations. The Zachary Law Group are alimony lawyers in Gilbert, Arizona who may be able to help you resolve your alimony questions during your divorce.
What Factors Does the Court Consider When Making Alimony Determinations in Gilbert, Arizona?
If you are getting divorced and anticipate either seeking alimony or paying alimony, you may want to speak to the Zachary Law Group, alimony lawyers in Gilbert, Arizona. Why? Unlike child support payments, judges don’t have specific guidelines when it comes to determining alimony awards. It can sometimes be difficult to predict the decision a judge might make. It is usually in each couple’s best interest to determine the alimony award outside of court, with the help of an alimony lawyer.
What happens if your alimony case goes before a judge? What factors will a judge consider when determining alimony awards? Here are a few things:
- The standard of living both parties enjoyed during the marriage and the lower-earning spouse’s ability to maintain that standard.
- Each parties’ income, assets, and liabilities.
- How long the marriage lasted.
- Each spouse’s age, health, and earning capacity.
- How long one spouse left the workforce to raise children or whether one spouse supported the other in career goals or education.
- What skills will the lower-earning spouse need to gain to enter the workforce or make more money?
- Will either spouse make more money in the future through an inheritance?
- How will property be divided in the divorce?
- Is there a minor child that one parent will stay at home to care for?
These are just a few factors that a judge may consider when making an alimony award. In general, the courts don’t favor awarding alimony for life, though there are situations—such as when couples get divorced later in life or at an older age, when lifetime alimony awards may be appropriate. Because different judges might view these circumstances in their own way, it may be wise to determine your alimony award outside of court, with the assistance of an alimony lawyer in Gilbert, Arizona like the Zachary Law Group. Our alimony law firm can review your finances, your earning capacity, your debts and liabilities, and other factors to help you determine a fair alimony settlement.
Alimony and Your Taxes
When determining the alimony you’ll pay, you’ll need to consider how alimony will impact your taxes and your financial planning. In the past, if you paid alimony, you were able to deduct your alimony payments from your income, which may have put you in a lower tax bracket—an added benefit. However, under the new tax law, individuals who pay alimony will no longer be able to make this deduction, if they get divorced after 2019. If you will be paying alimony, it is important to consider how alimony factors into your entire financial picture. A qualified alimony lawyer like the Zachary Law Group in Gilbert, Arizona may be able to help you understand your responsibilities and rights when it comes to alimony. We know alimony law. Let us help you.
Alimony Alternatives in Gilbert, Arizona
Alimony is usually paid each month to the lower-earning spouse. However, there are alternatives to making monthly alimony payments if the thought of writing your ex a monthly pay check is not appealing. For example, you can make an arrangement where you can pay your alimony in a lump sum payment. Lump sum alimony payments have some advantages to both the payer and the payee. If you receive an alimony lump sum payment, you avoid the risk that your partner might not someday meet his or her monthly obligations. You can also avoid legal problems in the future should you need to enforce a non-payment of alimony. Lump sum payments allow payers to plan financially and avoid the hassle of future payments. Lump sum alimony payments can have tax liabilities. If you plan to make a lump sum alimony settlement, consider speaking to the Zachary Law Group, alimony attorneys in Gilbert, Arizona.
Questions About Alimony? We Have Answers
Alimony can be one of the more contentious issues that can arise in a divorce. If you believe you may be entitled to receive alimony or have questions about the alimony settlement you may be entitled to receive, visit the Zachary Law Group, alimony lawyers in Gilbert, Arizona today. Our firm can help you understand your rights and responsibilities when it comes to alimony. We can take you through the pros and cons of taking your case to court, and work closely with you to help you get the best possible settlement permitted under the law.