Whether you expect to pay it or hope to receive it, alimony can be a significant factor that will impact your finances. If you believe alimony will be an issue in your divorce, it is critical that you retain an attorney who can present persuasive arguments on your behalf. For 25 years, Bruce Steinfeld of Steinfeld & Steinfeld, P.C., has helped clients achieve their goals through litigation, negotiation or mediation.
Under Georgia law, alimony can take three forms. The most common type of alimony is periodic alimony, meaning that a certain amount of alimony is paid for a certain period of time. This is a taxable event, deductible by the payor and taxable to the payee. A less common, but potentially viable option depending on the situation, is lump sum alimony, which refers to alimony paid in one or a few payments. Lastly, alimony in kind can refer to one spouse giving the other a home, an automobile, jewelry, or some other tangible item as alimony. Moreover, courts can award permanent alimony or temporary alimony while the divorce is pending. Atlanta alimony lawyer Bruce Steinfeld will help you understand the legal issues and work tirelessly to accomplish your objectives.
Courts are required to consider the following factors when determining the amount and duration of alimony:
- The standard of living established during the marriage
- The length of the marriage
- The age, physical condition and emotional condition of the parties
- The financial resources of each party
- The time required for either party to acquire skills necessary to obtain appropriate employment
- The contribution of each party to the marriage
- The earning capacities and separate estates of each party
- Any other facts the court believes are relevant
Further, alimony and the equitable division of the marital estate are related. In many situations, one party may negotiate a more significant portion of the marital estate in place of alimony. Considering the number of factors involved, courts maintain considerable discretion over how much alimony to award and for how long, or whether to award alimony at all. Bruce will provide you with the information you need to make critical decisions in your best interest.