Still, alimony in particular evokes strong feelings. Many people feel that once they divorce, they should be able to sever their financial ties with their ex-spouse. So in order to avoid contention, some people wonder if they should waive alimony or child support in a divorce.

You may want to keep the peace in your divorce, but what you ultimately decide should depend on logic, not emotions. And there are a lot of emotions a person may feel about child support and alimony, such as independence, fairness, self-worth, and closure. In any case, here are some guidelines to consider.

Should I Waive Alimony?

Not everyone is entitled to alimony, but some people sacrifice their careers to raise children or help out their spouses in their careers. This means some people are not as financially independent as others.

In addition, alimony is more likely in long-term marriages. Were you married for at least 10 years? Also, does your spouse have the ability to pay? A judge is more likely to enforce alimony if the payer is a high earner with a stable income.

Are assets being divided fairly? Could you maybe waive alimony for a better division of assets? Also, is there a prenuptial or postnuptial agreement involved? If so, that will ultimately determine the financial settlement.

Should I Waive Child Support?

Child support is dictated by state law and the courts rarely allow it to be waived because it is in place to help care for the child. The child’s best interests will always prevail in court.

With that said, there are some ways to reduce your ex’s liability if you think paying child support could be contentious. Here are some questions to ask yourself:

• Do you and your ex make the same amount of money? Could you provide for your children on your own or would you need assistance?
• How do you expect to share parenting time? Are you splitting it 50/50? Will your ex have the majority of custody? If so, then maybe you can negotiate on a lower child support amount.
• Will your ex contribute financially in other ways? For example, will they pay for medical expenses or extracurricular activities?

Seek Legal Help

While child support is not typically waived, alimony can be. But it needs to be the right choice for your situation. The law allows it, so you need to look at things logically and not use emotions to guide your post-divorce life.

Alimony comes with strong feelings. Fort Lauderdale alimony lawyer Edward J. Jennings, P.A. can represent your interests regarding the many different kinds of alimony that can be awarded in a Florida divorce. Schedule a consultation today to learn more. Fill out the online form or call (954) 764-4330.

Source:

psychologytoday.com/us/blog/a-better-divorce/202503/should-i-take-or-waive-alimony-or-child-support-during-my-divorce

Alimony can be temporary or even be permanent. That’s a lot of money to be spending on an ex-spouse. How can you avoid this obligation?

Types of Alimony

First, let’s understand the main types of alimony:

• When a marriage lasts longer than 17 years, the higher earner may be ordered to pay the other spouse for life.
• The length of alimony cannot exceed the length of marriage. A marriage that lasted five years will result in five years of alimony.
• This short-term alimony is meant to help a spouse receive training to return to the workforce.
• Temporary alimony helps pay for court costs related to the divorce and ends once the divorce is finalized.

Negotiating Alimony

If you are considered to be the payee spouse because you earn a lot more than your spouse, you may be able to negotiate it. The longer you have been married, the more you have to pay. However, you may be able to pay less if you wait until after a trial date has been set. Ask your lawyer about negotiating.

Also, consider something in exchange for alimony. Your spouse will likely take more money or assets now rather than payments over a period of time. People are impatient and want things right away. Plus, there is no guarantee your spouse would get alimony for a specific period of time, as alimony ends when either party dies. If your spouse doesn’t earn a lot of money, they would likely be agreeable to a larger sum of money now.  This is how lump sum alimony works, and once you pay off your spouse, any future alimony would be waived, working in your favor.

If your income has reduced and/or your spouse’s income has increased, you could request to have your alimony payment modified.  Also, if you have reached age 65 and are ready to retire, you can bring your case to court and see if you can get rid of alimony for good. The same applies if you are disabled and unable to work.

Alimony also ends if the recipient spouse marries, what you may not know is that it could also end if he or she starts living with someone. If your ex-spouse is cohabitating with someone who is helping pay the bills, it’s obvious they no longer need your financial help. Petition the court to get your alimony payments eliminated.

Seek Legal Help

Nobody wants to keep giving money to an ex-spouse. If you don’t want to pay alimony, then there are some ways you can lessen the burden.

If you are opposing alimony, Fort Lauderdale alimony lawyer Edward J. Jennings, P.A. can help you with the process. To learn more, schedule a consultation today. Call (954) 764-4330 or fill out the online form.

Resource:

floridaparentingclass.com/articles/alimony-in-florida/

On top of that, alimony is no longer tax-deductible, so there is no benefit to the payor. All it does is cause more acrimony in a tense divorce. Judges spend their time dealing with disputes relating to alimony as payors refuse to pay on time and decide to rant on Facebook and other social media sites. Hearings can go on for years, until there is no money left.

However, alimony in Florida is very liberal. There are five main types of alimony and they can range from temporary to permanent. Florida’s laws, however, are antiquated. Alimony has hung on as a way to compensate a spouse—typically a woman—who foregoes a career to stay home with the children. This is because the stay-at-home spouse is losing out on their earning potential.

There’s no denying that the state’s alimony laws are in dire need of reform. But until then, those who get divorced in the Sunshine State can expect to see alimony included in their divorce decree, unless both parties earn roughly the same amount of money.

Settlements are easier to come by when there isn’t much money involved. In fact, 95% of these cases settle. The other 5% involve high asset divorces with millions of dollars at stake. Many awards are based on one’s ability to pay, so more income equals higher alimony awards. That means that in these cases, monthly alimony payments of $10,000 or even $20,000 are the norm. But sometimes even that is not enough. The recipient, used to a lavish lifestyle, may continue to fight for more money, dragging on a case for years. In addition, these are not temporary awards. A person may be required to pay five-figure amounts for many years, even into retirement. 

In many cases, the recipient ends up wealthier than the payor. Because there is often no end to these extravagant alimony payments, the payors are forced to delay retirement. They may have to downsize their home and sell their possessions to make payments. While they can file for an alimony modification, these are often unsuccessful. Instead, the payor is out thousands of dollars in court costs. Their only hope is that the recipient remarries or dies.

Seek Legal Help

Alimony is probably the most contentious issue a divorcing couple can face. No former spouse wants to keep giving money to their ex-wife or husband, especially for decades or even the rest of their lives.

If you’re seeking or opposing an alimony award, contact Fort Lauderdale alimony attorney Edward J. Jennings, P.A. He can help represent your interests in court. Schedule a consultation by calling (954) 764-4330 or filling out the online form.

Resource:

tampabay.com/florida/2019/04/11/in-florida-the-fight-over-alimony-can-be-brutal/

https://www.ejj-law.com/is-it-a-good-idea-to-accept-lump-sum-alimony/

Taxes (or Lack thereof)

Before the alimony tax reform took place this past year, periodic alimony may have been more beneficial for the recipient for tax purposes. This is because, before January 1, the recipient had to claim alimony as taxable income. If a person received a lump sum payment, he or she may have had to pay taxes on the entire amount in that first year. This would have launched him or her into one of the higher tax brackets, meaning he or she would have lost money by going the buyout route. As of the New Year, however, alimony recipients no longer need to pay alimony on their support. This means you can accept the lump payment option without fear of leveling up to the next tax bracket, which could mean giving away up to 37 percent of your support to the IRS.

Guaranteed Payments 

Unfortunately, it is not uncommon for the payors to stop making alimony payments just a few short months after signing the settlement agreement—if they even make payments at all. Though infuriating for the recipient spouse, there is very little he or she can do to enforce payments without having to expend substantial resources on attorney’s and court fees. Accepting a lump sum payment takes the risk out of spousal support and does not give your ex the opportunity to stop making payments he or she agreed to make in the first place.

No Risk of a Change in Circumstances 

Some alimony payors choose to not make payments while others simply cannot. Your ex may fall into the latter category. Though it is difficult to enforce payments from a stubborn ex, it is not impossible. However, if your former spouse is able to prove a substantial change in circumstances, the courts will not force him or her to make payments he or she cannot afford. If your ex loses his or her job, becomes injured to the point where he or she is unable to work, or suffers a considerable change in financial circumstances for whatever reason, the courts may stop alimony payments altogether. A lump sum payment ensures that even if your ex goes through a change in circumstances in the future, the change will not affect you.

No Risk of Modification 

Even if your former spouse does not experience a change in circumstances, there is no telling if he or she will try to petition for a modification. Though Florida is one of the few remaining states in which the courts favor alimony recipients over the payors, there is no telling if your ex might succeed in the petition. If he or she does, it could mean a reduction in your payments over time, or that your payments stop altogether.

With a lump sum payment, your ex cannot ask for a do-over. Whatever you two agree on in court is what you get, period.

Always Consult With a Divorce Lawyer Before Accepting Any Settlement 

Alimony buyout may seem like a good idea to you now, but before you accept any kind of agreement, you should consult with a Fort Lauderdale alimony lawyer. At the office of Edward J. Jennings, P.A., one of our lawyers will look at both yours and your spouse’s financial circumstances and help you make the best judgement call. Contact our firm today to discuss your case more in depth today.

Resource:

marketwatch.com/story/new-tax-law-eliminates-alimony-deductions-but-not-for-everybody-2018-01-23

https://www.ejj-law.com/the-basics-of-bridge-the-gap-alimony-in-florida/

Bridge-the-Gap alimony is a temporary form of alimony designed to help a lesser-earning or stay-at-home spouse transition from being married to being single. In some cases, the support may simply be awarded to help a spouse pay for their living expenses while they search for a job. In others, it may be awarded to help that spouse pay for schooling, certification, or even a retaining program so that they have an opportunity for more gainful employment.

How Long is Bridge-the-Gap Alimony Meant to Last? 

Though each case is different, bridge-the-gap alimony is not meant to last any longer than two years. Additionally, neither party is allowed to seek a modification to this type of support order once it is finalized (Florida Statute § 61.08(5)). For this reason, it is important that you and your spouse work out a suitable arrangement—meaning, you figure out what the support will be used for and how much is necessary to accomplish the recipient spouse’s end-goal—before the judge hands down a final order. With all that in mind, not all bridge-the-gap alimony awards will last for two years; how long your support order will last will depend on a number of factors, including how much the recipient spouse currently makes compared to the payer, how many years in courses or retention services the recipient spouse will need to find gainful employment, and what the amount of living expenses the recipient spouse has.

Can Bridge-the-Gap Alimony Be Terminated?

Because bridge-the-gap alimony is not permanent support, it does come with some stipulations, one of them being that the paying spouse can be freed from his or her obligations if one of the following happens:

• The recipient spouse suffers an untimely death;
• The paying spouse suffers an untimely death (in this case, their family would not be obligated to fulfill the terms of the support order); and
• The recipient spouse gets remarried.

The final stipulation is in place with the assumption that the individual’s new spouse would be able to help out financially, thereby eliminating the need for the former spouse’s payment. However, there are numerous other provisions that surround bridge-the-gap alimony, so before you settle for this form, speak with a Fort Lauderdale alimony attorney about any questions you have regarding spousal support.

Work With an Experienced Fort Lauderdale Alimony Lawyer 

If you have decided to end your marriage and are curious about what you with either have to pay in alimony or what you will receive in terms of support, consult with a Fort Lauderdale divorce lawyer. Our attorneys at Edward J. Jennings, P.A. can help you determine what is fair and ensure that you either pay nothing more than what your future-former spouse needs, or that you receive nothing less than what you deserve. If you are interested in scheduling a free consultation, call 954-764-4330 today.

Resource:

leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&Search_String&URL=0000-0099/0061/Sections/0061.08.html