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In divorce, a standard question is, "what may be the alimony formula." Well, there is really no set alimony formula for divorce. This can be in complete contrast to child support, which can be determined based upon a particular system in each state. Alimony is founded on factors and those factors are decided through divorce discussion or by way of a divorce judge oklahoma divorce . But, there's no alimony formula offered to your divorce lawyer or you to decide in advance what alimony will soon be paid in your situation.
What does a divorce court look at to find out alimony? These issues do vary by state. But, there are also many alimony elements that are popular from state to state. So, while there's no specific alimony method for you to count on, there are alimony factors that you may look at to help you know what the alimony could be in your case.
In divorce, a few of the alimony factors a judge may look at include the following. First is the size of your marriage. If the parties have been married for 12 months, the court's attitude towards a demand for alimony is likely to be different than if the parties have been married for two decades. Since the period of relationship differs so much in most divorces, it's extremely hard to select this aspect into an alimony forumla to determine the alimony volume.
Still another factor affecting the award of alimony is employment status. Obviously, if the spouse seeking alimony has been unemployed or underemployed for a number of years to care for young kids, the house, or the spouse, that's one factor that will militate in that spouse's favor if he or she's seeking alimony. On the other hand, if that partner has the ability to obtain employment that will more than acceptably meet his / her desires, the court might feel a differently about awarding alimony to that party. Other factors which might be considered directly with this element include amount of education, work experience, the age of young ones within the family, and work history.
A significant factor that can influence an of alimony is the quantity of property to be kept o-r separated by the parties. If the spouse seeking alimony has been a stay-at home parent, but will have signifcant assets after divorce or has individual assets, such as a trust fund, the court's attitude towards the award of alimony will be affected. The judge will surely view a for alimony under these conditions much different when compared to a request made by an individual who is receiving no assets in the divorce o-r who does not have any separate property.
The health of the party seeking alimony is really a significant factor that could affect a decision in awarding alimony. If the spouse seeking alimony features a debilitating shape that impacts whether or how much they are able to work, the court won't want to impoverish that party after divorce and the court will become more likely to use alimony to deal with at the very least basic living needs.
An added factor that needs to be considered by the events and by the divorce court, is the taxability of the alimony payments. In most instances, when there is no specific provision to the opposite, spousal assistance payments are taxable to the receiver and tax-deductible to the payor consumers . The tax benefit obtained by spreading out economic wealth within this fashion could be significant and must be discussed comprehensive together with your divorce attorney.
One issue that is not generally considered by the court, but must be discussed with your divorce attorney, is that alimony payments are, in common, not dischargeable in bankruptcy. If you have any chance the party who is to pay alimony will be filing for bankruptcy, the divorce lawyers will negotiate very difficult on both sides to improve the final advantage with their client in divorce.
It should thus be clear that in divorce, there can be no simple alimony forumla, no matter what state you reside in. It is impossible to plug these and other elements in-to a mathematical formula to arrive in a "correct" alimony system. It's essential that the divorce court, or the divorce lawyers evaluate how these diverse and different factors affect both parties in the divorce and then arrive at an answer that includes most of the divorce dilemmas, including property settlement and alimony edmond oklahoma divorce lawyer . They cannot simply setup an alimony formula that will work for all parties.Edmond Divorce & Family Law Center
1050 E. 2nd St. #219
Edmond, OK 73034
(405) 726-0469
