Understanding the Fair Amount for Alimony: Offering Support
For many couples navigating a divorce, determining the appropriate amount and duration of spousal maintenance or alimony can be a challenge. While attorneys often base their suggestions on your budget figures, these might not always reflect the true financial picture. Remember, attorneys are there to advocate for their client's best interests, meaning they'll aim for the lowest amount if you're the payor and the highest if you're the recipient. But don't worry, there's a more balanced approach to explore!
Just so you're aware, I'm a strong proponent of negotiated settlements, regardless of whether attorneys are involved. You might wonder, "How do we determine the ideal amount?" This is where a CDFA™ steps in. We provide a comprehensive financial projection for both parties, spanning two decades into the future. This includes all expenses, income, assets, and liabilities, giving each person a detailed financial roadmap based on the proposed settlement agreement.
With such detailed financial data at your fingertips, identifying the optimal solution that benefits both parties becomes much simpler. Our aim is to ensure both individuals transition into the next chapter of their lives, confident in the financial future they anticipate.
Once we can show that the payor's net worth and cash flow are positive and increasing and he/she can still reach their financial goals if they pay a certain level of maintenance, they're far more likely to reach an agreement. Don't spin your wheels trying to convince the other side you're right without the numbers to back you up! Give us a call. We’re here to help.
This information is not intended to be a substitute for seeking legal advice from an attorney. For legal or tax advice please seek the services of a qualified attorney and/or qualified tax professional.