Alimony: How to Get the Best Deal
Alimony in wisconsin service is a post-marriage financial arrangement that may be ordered by the court when a marriage dissolves. The purpose of alimony is to provide support for one spouse who does not have sufficient assets or income to maintain the standard of living established during the marriage. Alimony can also be used as incentives for one spouse to enter into agreements not to receive certain benefits, such as Social Security Disability Insurance retirement and medical insurance benefits.
There are many factors that go into determining how much alimony will be awarded; however, it should never exceed 50% of what each party earns annually or $5,000 per year (whichever is greater). If you are seeking alimony in your divorce settlement, here are some steps you can take to ensure you get the best deal possible:
* Discuss alimony with your spouse during divorce negotiations. If this is unsuccessful, be sure that your attorney discusses it thoroughly in court.
* Be prepared to provide evidence of any relevant information about other sources of income and assets when filing for alimony if necessary.
* Make a list and corresponding values of all marital property, including liquid or non-liquid items such as stocks, bonds, real estate holdings etc., so that an accurate estimation can be made on what is owed from each party’s share . Alimony cannot exceed 50% of either party’s annual gross income unless there are extraordinary circumstances where one spouse lacks sufficient means by which they may maintain their standard living according to their previous standards.