Long Term Alimony
In New York, spousal support is becoming more unusual in divorce settlements. The length of marriage is an important part of the equation of calculating the need for alimony. Typically, alimony awards for marriages of durations shorter than 10 years won’t be considered at all, except in cases of limited-duration alimony to help a spouse meet short-term needs to re-enter the workplace. Temporary spousal support is often referred to as rehabilitative alimony.Will Long-Term Alimony Be a Part of Your Divorce Settlement?
For long-term marriages, the spouse seeking permanent alimony must show that there would be a significant and inequitable reduction in lifestyle if alimony is not awarded. When determining whether long-term alimony should be considered for divorces involving couples of high net worth, the courts often consider the standard of living during the marriage as an important factor. The standard of living previous to the marriage is typically not an important factor.Spousal Support Lawyer Serving New Paltz, Kingston, & Hudson Valley
For more than 25 years, individuals of high net worth have relied on my firm, Jonathan D. Katz, Attorney at Law, to work aggressively to protect their financial interests. Whether you are seeking long-term alimony or are concerned about an unfair distribution of your personal finances, I am an experienced divorce litigation attorney, ready to protect your rights. Contact me today.
In cases of divorcing couples with high net worth, it is not unusual for one party to seek a significant lump-sum settlement in lieu of monthly obligations to meet their needs for prolonged economic dependence. Parties on both sides of the dispute have a strong interest in protecting their financial future. If a large settlement or long-term support will be part of your divorce settlement, make sure your lawyer understands the complex issues that often go beyond income.
Some of these issues include:
- Business valuation and value of clients and future business potential
- Current and future value of medical and other professional practices
- Value of the spouse’s education, professional license and career
- True net worth, including earnings from investments and retirement accounts
- Tax obligations and debts
- Alimony modifications in the event circumstances change after the settlement
From my offices in New Paltz, I represent clients in family law courts throughout the Hudson Valley the Catskills and New York City. Contact me to arrange a consultation to discuss your spousal support concerns in your pending divorce.