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Factors that go into deciding alimony 6payments

On Behalf of | Jul 25, 2018 | Alimony

While alimony can be a tough subject for those getting divorced in Maryland to discuss, it will need to be addressed at some point. In some cases, an individual who may be entitled to support may choose to waive his or her right to it. However, this is generally a bad idea because the option to accept alimony in the future is generally off the table once it has been waived.

To gain leverage during alimony negotiations, it is important that a person has a good understanding of his or her financial situation. This means knowing how much it will take to live after the divorce is finalized. Creating a budget can help a person figure out their projected income and expenses as a single person. From there, it becomes easier to know whether it makes sense to accept an alimony offer.

It is important to note that unlike child support payments, there are few guidelines as it relates to creating a spousal support offer. Therefore, it is important that a person be reasonable during alimony negotiations. As a general rule, the circumstances in a given case will dictate what a person may be entitled to. For instance, those with debt and little savings will likely get more than someone who has millions of dollars to split with a former spouse.

To help a person maintain his or her standard of living after a divorce, an individual may be entitled to spousal support. An attorney may assist an individual gather information that could be helpful during negotiations. Examples of relevant information include bank statements, a credit report and anything else that can verify a former household’s financial situation.

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