The saying “time is money” often holds true in the context of marriage and alimony. The length of your marriage can significantly influence your alimony settlement. Grasping this link is essential for anyone going through a divorce.
Financial interdependence between spouses typically grows over time
Post-divorce, one party may be obligated to offer financial support to their ex-spouse, a practice known as alimony or spousal support. The duration of the marriage helps courts decide:
- 5 years: Alimony is less likely or limited.
- 5-20 years: Alimony is more common, with duration and amount varying by circumstance.
- 20+ years: Longer-term or permanent alimony is more likely, especially if one spouse was financially dependent.
North Carolina law does not set a minimum marriage length required to be eligible for alimony. Still, courts will weigh other crucial factors such as income, financial needs, age, health and contributions to the marriage when deciding on alimony cases.
Securing the financial support you need
North Carolina courts may award different types of alimony:
- Rehabilitative alimony: Temporary support to help a spouse become self-sufficient.
- Reimbursement alimony: Compensation for financial contributions made during the marriage.
- Permanent alimony: Long-term support, often awarded in lengthy marriages.
It is important to note that alimony is not always permanent. If you are the dependent spouse, the goal of alimony is often to help you become self-supporting. This makes it very important to reach a fair alimony arrangement, one that can help you move forward with life.
Remember, no divorce is the same, and you do not have to face yours alone. It is best to work with a qualified attorney for your divorce concerns. Your financial future may depend on the professional advice you seek during this challenging time.