When going through a divorce, it’s important to remember that it is not only the division of assets that can determine your future quality of life, but also the income that you earn and the expenses that you owe. Even if one spouse gets the lion’s share of marital assets, they may still be ordered to pay a significant amount of alimony to the other spouse in the months and years to come.
Alimony is an often-overlooked factor that can hugely impact you and your dependents. If you are approaching a possible divorce, you should take the time to understand the law and plan so that you can get a positive result.
How is alimony calculated?
Alimony is usually awarded to the spouse who is earning a significantly lower income than their divorcing partner. If the courts are convinced that the lower-earning spouse will suffer from a decrease in their standard of living after the divorce has been finalized, they will likely be awarded some form of alimony. However, many factors will be taken into consideration when determining the length of the alimony order and the amount that the payments will be.
What factors will determine the length of the payments?
When determining the length of the payments, the courts will consider the qualifications and career potential of the divorcing spouse set to receive the alimony. It will be considered whether they are in a position to retrain for a better paying job, or whether they can work more hours to increase their income.
What factors will determine the payment amounts?
The amounts of the alimony payments will depend on the incomes of both spouses and the disparity between them. The courts will also take into account the likely expenses that each spouse will be subject to after the divorce. For example, the spouse keeping the family home may have to pay a significant amount to maintain it.
If you want to make sure that you maximize the alimony that you are awarded after a divorce in Oregon, it is important that you consider all variables. By taking action early in the process, you will be able to plan a convincing case.