Protecting Your Post-Divorce Financial Picture
Spousal support — also known as alimony or spousal maintenance — is a temporary or permanent award of financial support from one spouse to another. There are several types of spousal support. Support may be awarded on a temporary basis while the divorce is pending or may be set for a period or even an indefinite period of time after the divorce is finalized. Many people facing divorce want more information about maintenance/alimony. Let our experienced team at First Look Family Law, SC talk with you about your financial situation and how maintenance/alimony could impact your case, so you are prepared with the information you need.
If you are considering or facing divorce, you are likely concerned about the financial picture both during and after the process. You are wondering whether maintenance/alimony will be awarded and, if so, in what amount. We have extensive experience with cases that may involve maintenance/alimony. Let us take a first look at your case and talk with you about the tools you need to make the next financial decision in your life and in your divorce.
In Wisconsin, there is no set formula for determining the amounts or duration of maintenance/alimony. The reality is, each case is unique, and each set of circumstances will determine the outcome. Many facts must be weighed by a court in determining whether maintenance/alimony is appropriate in a given case, including:
- The duration of the marriage
- The spouses’ age and health
- What the property division will look like in the divorce
- The parties’ educational levels
- The parties’ earning capacities
- The parties’ employment prospects
- The tax ramifications of a support award
- Both parties’ contributions to the marriage
- Parenting responsibilities and child support
- The standard of living attained during the marriage
- Any agreements previously reached between the parties
For parties with minor children, Wisconsin law also offers a hybrid of spousal support and child support, called family support. This arrangement may result in more favorable tax consequences for both parents. We look forward to reviewing your situation with you and providing you with the resources you need to choose the best path for the next step in your life.