Virginia Beach Attorneys Explain Factors Determining Alimony In VA
The purpose of alimony is to relieve the unfair economic consequences of a divorce and to compensate spouses for economic and non-economic contributions made during the marriage. A VirgniaBeach alimony attorney at the law office of The Stallings Law Group, P.C. can provide the legal advice and guidance you need concerning divorce and alimony.
There are no official formulas for calculating alimony in the state of Virginia, but each county has adapted a procedure that considers factors such as the age, mental and physical condition, income, need and debt of either spouse. Depending on the facts of your case and the county in which you file, the outcomes of a spousal support claim may vary. An alimony attorney serving Virginia Beach, Chesapeake and Suffolk can explain what other factors affect the amount of alimony owed or due.
Distinguishing between the four types of alimony
Alimony is usually granted to balance the discrepancies between contributions and earnings of either spouse during marriage. You may be eligible to receive one of four types of alimony:
- Temporary alimony may be awarded to one spouse during the period following separation but preceding divorce. The spouse may receive alimony as part of a Separation Agreement or as awarded by a judge during a pendent lite hearing.
- Rehabilitative alimony is granted to one spouse to give him or her the time or the opportunity to obtain job training and to become self-sufficient. A spouse may stipulate that there should be a review to see whether the alimony payments should be renewed and/or reduced after a certain period of time has passed. For assistance with an alimony agreement, contact a knowledgeable family lawyer.
- Permanent alimony is paid periodically to one spouse indefinitely over time, until the spouse who is receiving the support remarries or either spouse dies. It usually applies in cases where couples have been in long-term relationships. Keep in mind that a material change in one spouse’s financial circumstances or income-producing capacity may warrant modification to an award of permanent alimony. In such a case, a Suffolk alimony attorney can also help to get the agreement modified accordingly.
- Lump sum payments of alimony are usually amortized to reflect the present value of future payments. A lump sum may be preferable for tax purposes or for a more equitable property division. You should consult with a lawyer and your accountant to find out whether a lump sum payment is right for you.
A Virginia Beach alimony attorney can provide the guidance you need when determining alimony.
For skilled alimony assistance
The Stallings Law Group, P.C. has provided the community with dedicated legal support and guidance since 1979. Call us at 757-422-4700 or contact us online if you need a family law, divorce or child support lawyer. Schedule a free initial consultation with the divorce lawyers at our firm today.