When planning for your future after your marriage ends, understanding your financial landscape is crucial. Alimony support can greatly impact your finances, and without proper knowledge, you may find yourself struggling to keep up. Alimony, or spousal support, is a legal arrangement where one former spouse provides financial help to the other after a divorce. The goal is to help the receiving spouse keep up a lifestyle close to what they had during their marriage.
Alimony is not always a permanent arrangement, and its duration can vary significantly depending on the specific circumstances of the divorce. So, what factors can bring these payments to an end?
Court-ordered end date
When a judge orders alimony, they often specify an end date. The duration of payment can vary widely. In some cases, it might last a few years to help the receiving spouse get back on their feet. In others, especially for long-term marriages, it could extend for many years or even be indefinite.
Death of a spouse
Generally, alimony payments will end upon the death of either the payer or the recipient. If you are the latter, you may want to consider how the loss of these payments will affect your finances and plan accordingly.
Remarriage or cohabitation of the recipient spouse
If you are the recipient and you decide to remarry or simply move in with a new partner, payment will typically end. The law generally assumes that your new spouse will provide financial support, eliminating the need for continued alimony from your ex.
Changes in the finances of paying spouse
Life is unpredictable, and financial circumstances can change. If you are the paying spouse and your income substantially decreases, you may be able to request a modification to the spousal support order. This could be due to a job loss, illness or retirement.
Options for modifying spousal support payments
Alimony orders are binding, but they are not set in stone. Whether you are the paying or receiving spouse, you have the option to petition for a modification. However, remember that the court does not take these modifications lightly. You will need to present clear and convincing evidence that demonstrates a substantial change in circumstances.