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In divorce, a standard issue is, "what may be the alimony formula." Well, there is really no set alimony formula for divorce. That is in complete contrast to child support, which can be decided based upon a specific method in each state <a href="http://edmonddivorceandfamilylawyer.com/">oklahoma divorce</a> . Alimony is founded on factors and these factors are decided through divorce settlement or by way of a divorce judge. But, there's no alimony formula open to your divorce attorney or one to determine in advance what alimony is likely to be paid in your case.
What does a divorce court look at to find out alimony? Those dilemmas do vary by state. But, there are also many alimony elements that are common from state to state. So, while there is no particular alimony system for you to rely on, there are alimony factors that you may take a look at to help you figure out what the alimony might be in your case.
In divorce, several of the alimony factors a judge may take a look at are the following. First is the length of your relationship. If the parties have been married for twelve months, the court's attitude towards a request for alimony is likely to be very different than if the parties have been married for twenty years. Since the period of marriage differs therefore much in all divorces, it's difficult to plug this aspect in-to an alimony forumla to determine the alimony volume.
Yet another factor influencing the award of alimony is employment status. Certainly, if the spouse seeking alimony has been unemployed or underemployed for a number of years to care for young kids, the home, or the spouse, that is a factor that may militate in that spouse's favor if he or she's seeking alimony. On-the other hand, if that partner has the ability to get work that will more than acceptably meet her or his desires, the court may think a differently about awarding alimony to that party. Other facets which are considered strongly with this particular factor include amount of education, job experience, age young ones in the house, and work history article .
An important issue that can affect an of alimony is the amount of property to be retained o-r divided by the parties. When the spouse seeking alimony has been a stay at home parent, but will have signifcant assets after divorce or has individual assets, such as for instance a trust fund, the court's attitude towards the award of alimony will be affected. The court will surely view a for alimony under these conditions much different when compared to a request made by an individual who is getting no assets in-the divorce or who does not have any separate property.
The healthiness of the party seeking alimony is a important issue that can influence a decision in awarding alimony. In the event the spouse seeking alimony includes a debilitating physical condition that impacts whether or how much they are able to perform, the court will not need to impoverish that party after divorce and the court will become more prone to use alimony to deal with at the very least basic living needs.
One other factor that needs to be considered by the parties and by the divorce court, is the taxability of the alimony payments. In most instances, when there is no particular provision to the contrary, spousal assistance payments are taxable to the person and tax-deductible to the payor. The tax advantage obtained by spreading out economic wealth in this manner could be important and must be discussed comprehensive with your divorce lawyer.
One problem that is not always considered by the judge, but must be discussed with your divorce lawyer, is that alimony payments are, in general, not dischargeable in bankruptcy. If you have any possibility the party who is to pay alimony will be filing for bankruptcy, the divorce lawyers will discuss very difficult on both sides to improve the benefit with their client in divorce.
It will therefore be apparent that in divorce, there might be no easy alimony forumla, no matter what state you reside in. It's difficult to put these and other factors in-to a mathematical equation to reach in a "correct" alimony system edmond oklahoma divorce lawyer . It is essential that the divorce court, or the divorce lawyers review how these various and different factors affect both parties in the divorce and then get to a solution that involves most of the divorce issues, including alimony and home settlement. They can't just put up 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
