If you are going through a divorce, one of the most important things to consider is alimony. Alimony is a payment made by one spouse to the other to provide financial support after the divorce. However, not all alimony is the same, and it's important to understand the different types of alimony available to you. In this post, we'll discuss the different types of alimony and how they can impact your divorce settlement.
1. Temporary Alimony
Temporary alimony, also known as pendente lite alimony, is a type of alimony that is paid during divorce proceedings. This type of alimony is designed to provide financial support to the lower-earning spouse while the divorce is being finalized. Temporary alimony is usually based on the standard of living during the marriage and the needs of the lower-earning spouse.
2. Rehabilitative Alimony
Rehabilitative alimony is a type of alimony that is paid for a specific period of time to help the lower-earning spouse become financially self-sufficient. This type of alimony is often awarded to a spouse who has been out of the workforce for a period of time or who needs additional education or training to become employable. Rehabilitative alimony is designed to help the lower-earning spouse get back on their feet and become financially independent.
3. Permanent Alimony
Permanent alimony is a type of alimony that is paid for an indefinite period of time. This type of alimony is usually awarded in cases where the lower-earning spouse is unable to become financially self-sufficient due to age, disability, or other factors. Permanent alimony is designed to provide ongoing financial support to the lower-earning spouse for the rest of their life.
4. Reimbursement Alimony
Reimbursement alimony is a type of alimony that is paid to compensate a spouse for expenses they incurred during the marriage. This type of alimony is often awarded in cases where one spouse supported the other through education or training that ultimately led to a higher earning potential. Reimbursement alimony is designed to compensate the supporting spouse for their contributions to the other spouse's career.
5. Lump-Sum Alimony
Lump-sum alimony is a type of alimony that is paid in a single, lump-sum payment. This type of alimony is often awarded in cases where the lower-earning spouse wants a clean break from the marriage and does not want to rely on ongoing payments from their ex-spouse. Lump-sum alimony is designed to provide financial support to the lower-earning spouse without the need for ongoing payments.
Contact an Experienced Attorney
Understanding the different types of alimony is crucial when going through a divorce. Each type of alimony has its own purpose and can impact your divorce settlement in different ways. If you need help navigating the complexities of alimony, Cofer & Connelly, PLLC can provide you with the guidance you need. Contact us today to schedule a consultation.