Calculating Alimony in Your Divorce

Calculating alimony is just one of the headaches you'll through during a divorce — Photo by CC user stevepb on Pixabay

When going through a divorce, money is oftentimes the biggest sticking point.

As it turns out, those differences over money can oftentimes be the issue or issues that lead both parties to seek legal help.

Whereas a summary dissolution of a marriage is an easier way for two people to legally go their separate ways, divorces oftentimes are anything but easy.

If you’re finding money to be the major battleground in your pending divorce, reaching out to a divorce attorney is your best solution.

He or she can assist you in making sure that you are properly compensated during this trying time and moving forward.

So, what do you need to know when it comes to calculating alimony in your divorce?

Weaving Through Muddy Financial Waters

As your divorce navigates some tricky waters, notably differences over finances, here are some things to keep in mind:

Alimony – By using an alimony calculator in your divorce, you can better understand and position yourself (and your children if applicable) to receive what is fair and just financial compensation. For instance, if you are “Party A” in the divorce and make $40,000 a year, meantime “Party B” in the divorce makes $200,000 a year; you will obviously be financially impacted once the latter is no longer bringing money into the household. As a result, you need to make sure that you determine approximately how much money you will need to maintain the lifestyle you had been leading up to this point. In some cases, the two parties can come to a mutual agreement without getting legal pros involved. Oftentimes, however, the need to see a divorce attorney is real and necessary;

Honesty – Even though many couples are honest with one another when it comes to finances, others simply are not. How many times have you heard or seen about the one partner who had money stashed away in “secret” account somewhere? If you think it can’t happen to you, think again. It is important to make sure that your ex is being as honest and upfront with you as possible. By bringing legal representation into the matter, you have individuals on your side that can investigate and make sure your ex is as upfront as they can possibly determine. In the event you find out otherwise, do not just sit back and accept it as reality. Making sure you have the finances you are entitled to after years of being a couple should always be a top priority;

Internet – Unlike a few decades ago when most folks navigating divorces had to rely on word-of-mouth referrals or advice from individuals requiring phone calls or in-person visits, the Internet has changed the way most people live. One of those changes is that there is a mountain of information online about not only the financial impact of divorces, but also how to find the best divorce attorneys and more. If you are finding it hard to digest all of the information out there about divorces and what type of alimony you are entitled to, take some time to surf the Internet, finding information that can be quite beneficial to you;

Compromise – Finally, while you should never compromise simply to let someone else get all of what they want and little for you in return, there are hopefully areas you and your parting husband or wife can agree on. In doing so, you can lessen any extended time necessary to work out alimony and other aspects of your divorce. In some cases, divorces can drag on for an extended period of time, notably because one party wants more than they are willing to give in return. With that being the case, hold your ground as much as possible, but do consider compromising to some degree when it is in the best interests of everyone involved.