How to Negotiate a Fair Alimony Arrangement
Like any other aspect of your divorce, you can negotiate an alimony arrangement outside of the courtroom. Doing so allows you to have more control over your future, while also avoiding the expensive, time-consuming process associated with litigation.
Each spouse in a divorce must provide certain financial disclosures at the outset of the divorce, even if it’s obvious which spouse will be making the alimony payments. To determine an appropriate amount of alimony, you will need to consider the following:
- Separate assets your spouse owns: You are entitled to know the value of any assets your spouse owns independently of you. This includes any assets gained before the marriage.
- General income and expense reports: A detailed income and expense report will give you a clear picture of how your spouse is spending money. Major disparities in spending and income must be addressed in alimony discussions, especially if one spouse has a lot of money to spend on luxury items.
- Bonuses and benefits: Additional income is available from overtime and bonuses. This may be unpredictable, but should still be included when calculating alimony. Know if your spouse receives certain work-related benefits such as sick pay, unused vacation pay, health insurance benefits, vehicles paid for by the company or any similar benefits.
- The needs of the person receiving alimony: The purpose of alimony is to provide the spouse receiving payments with the support he or she needs to maintain a reasonably decent standard of living. Just because there is a large disparity of income does not mean the recipient is going to get large sums of money each month.
For more information on negotiating a fair alimony agreement, work with a knowledgeable Long Island divorce lawyer at Bryan L. Salamone & Associates.