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Maryland Alimony Attorney
During divorce negotiations, it is common for the family law of the area to call for an amount of financial spousal support to be paid by one partner to the other on a regular basis. Spousal support, also known as alimony, is separate from child support and is targeted towards the needs of the receiving spouse and not the children. Alimony can be calculated using different factors and can either be given in regular monthly payments or an agreed upon lump-sum amount. The purpose of these alimony payments is to preserve the economic status of both partners as it existed prior to the divorce.
Key Factors Influencing Spousal Support Amount in Maryland
In Maryland, the amount of spousal support agreed upon in a divorce settlement involves several factors. These factors may include the established standard of living for both parties during their marriage, the circumstances that led to their estrangement, the physical or mental condition of each partner, the ability of the receiving partner to be wholly or partly self-support and any other agreement between the parties on the subject.
Modification of Spousal Support in Maryland: What You Need to Know
Spousal support agreements can be modified under special circumstances. In order to warrant modification of alimony, the court must find that a significant change in the circumstances of one or both parties has taken place. Two factors in an alimony agreement are subject to modification upon the decision of a court.
An extension of the amount of alimony can be granted in appropriate circumstances and the amount of alimony can also change further down the road if deemed necessary.
Understanding When Alimony Can Be Terminated in Maryland
Unless otherwise agreed upon by both parties, alimony terminates under only three circumstances: the death of either party, the marriage of the receiving spouse or if the court finds such action necessary in order to avoid an unfair result. In the case of a court decision, the spouse advocating for the termination of alimony would have the burden of proving the harsh or unfair result.
Is Alimony Taxable? Important Considerations
Alimony payments are subject to taxation. Therefore, the parties involved should equip themselves with respective spousal support attorneys who understand alimony law well in order to ensure that their clients are fairly treated and receive appropriate treatment by the court and other partners. Because spousal support can be complicated and confusing, it is important for an individual involved in or considering divorce to educate himself or herself about what is at stake during a divorce, specifically concerning alimony.
Secondly, the individual should seek legal counsel from an experienced attorney who can navigate through the difficult process and ultimately ensure that their client's best interest is protected.
Paying Child Support and Spousal Support: What You Should Know
Child support and spousal support serve different purposes. Child support is designed to cover the costs associated with raising a child, including necessities like food, clothing, education, and medical care. This support is usually mandated until the child reaches the age of majority, which is 18 in Maryland, or graduates from high school, whichever is later. In contrast, spousal support, also known as alimony, is intended to provide financial assistance to a lower-earning spouse after a divorce, helping them maintain a standard of living comparable to that enjoyed during the marriage.
In Maryland, courts use specific guidelines to determine child support payments, taking into account factors such as the income of both parents, the number of children, and the custody arrangement. Spousal support, however, is more discretionary and considers factors like the length of the marriage, the financial needs and resources of each spouse, and their standard of living during the marriage.
It is possible to be ordered to pay both child support and spousal support concurrently. The court will assess the financial situation of both parties and determine appropriate amounts for each type of support. While these obligations are separate, the amount of child support can influence the spousal support decision, as the payer’s overall financial capacity must be taken into account.
If you are concerned about the financial impact of paying both child support and spousal support, consulting with an experienced family lawyer in Annapolis can provide clarity and help ensure that your interests are adequately represented in court. An attorney can assist in negotiating terms that are fair and manageable, helping you meet your legal obligations without undue hardship.
Contact Our Annapolis Alimony Attorney for Support
At the Law Office of Nicholas T. Exarhakis, our commitment is to protecting the rights and needs of our clients during all stages of a divorce proceeding. After years of experience in practicing divorce law, we have come to understand how difficult a divorce can be for anyone, both financially and emotionally. For this reason, our alimony attorney from Annapolis handles clients' cases with objectivity and determination.
Divorce comes with a great deal of uncertainty about the future, especially concerning finances. It is essential that the settlement of your divorce provides you with a financial plan that you can live comfortably with.
If you are seeking legal counsel in your alimony or spousal support agreement, contact us today.
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