Are you getting divorced or planning for a divorce? It is important to understand the financial implications, including alimony. Keep reading to learn more about the different types of alimony.
Temporary alimony is short-term financial assistance paid by one spouse to the other spouse. This is typically paid out when the couple is separated and before the divorce is finalized. Once the divorce is finalized, this type of alimony is typically not paid out anymore.
Reimbursement alimony is the type that requires one spouse to reimburse the other spouse for the expenses that they paid out for on behalf of them. One example of this is if one spouse is paying for the other’s college expenses. In this case, the court may grant reimbursement alimony so the spouse paying for college expenses can be reimbursed.
Lump-sum alimony is just what it sounds like. This is a lump-sum, a single amount of alimony paid out all at once instead of overtime via multiple payments. This is often done in situations where one spouse needs cash upfront to get settled in their new living situation, whether that is buying a new vehicle or securing a lease on an apartment.
In the case where only one spouse is financially independent, rehabilitative alimony may be granted to the spouse that is not financially independent. This is paid out to someone that is a stay-at-home parent or one that works part-time in order to help them become financially independent.
Permanent alimony is not as likely to be granted as temporary alimony. However, it is granted in some cases in California. Permanent alimony is month to month payment that is made until the other spouse either remarries or dies. This is often only granted when a couple has been married for more than 10 years.
Distribution of Property
In lieu of monetary payments to one spouse, the couple may agree that the financially independent spouse can grant legal ownership of property instead.
Contact Kendall Gkikas & Mitchell, LLP for help with your divorce case.
Are you currently going through a divorce or planning for a divorce and wondering how alimony may apply in your case? While there is no way to predict exactly how the court will rule in regards to your case, having an experienced family law attorney like Kendall Gkikas & Mitchell, LLP on your side can help make ensure that you get a fair settlement when it comes to things like child custody, asset allocation, and alimony. Divorces can quickly get complicated and messy, which is why you should give us a call today at 909-482-1422 to set up your consultation with our experienced family law attorneys.
To learn more about the quality family law services that we offer, visit us on the web at Kendall Gkikas & Mitchell, LLP.