Awards of alimony come in many forms with different avenues of termination. Therefore, it is critical to discuss with your Orlando Divorce Attorney your alimony award and the mechanisms or timeline of its termination in order to financially prepare for your future. If you do not prepare for the end of the alimony period, you can face financial hardships that are difficult to recover from. With the help of an Orlando Divorce Attorney, your alimony plan can be designed to take these pitfalls into consideration and help you to create achievable goals before your alimony period ends.
There are five different types of alimony awards in Florida: temporary or pendente lite, bridge the gap, rehabilitative, durational and permanent alimony.
Temporary alimony or alimony pendente lite is awarded for the duration of the divorce proceedings. This is necessary to provide the lower earning spouse with the financial security in order to continue with a divorce and establish equity between the parties. This type of alimony will terminate at the conclusion of the divorce case. Therefore, it is necessary to discuss with your Orlando Divorce attorney prior to the conclusion of your case your financial needs following your divorce and determine if a future alimony award is necessary to plan for your financial future.
For short term needs the court is likely to award bridge the gap alimony. This award assists the party in the transition from being married to single. This award will never exceed two years and terminates upon death or remarriage of the recipient. Use this short-term monetary support to plan your career path and financial needs. Monitor and compare your married spending habits or cost of living arrangements with your new single lifestyle. This is the main purpose of such alimony awards.
When monetary support is necessary to allow a spouse to acquire education or vocational training to assist in becoming self-sufficient, the court will award what is known as rehabilitative alimony. Within the award the court will determine a specific termination date as well as a rehabilitative plan. This award can terminate on the specified date, or upon showing the party is non-compliant with the rehabilitative plan. Within this award it is critical to maintain the plan set forth by the court in order to preserve your alimony award. Further, it is prudent to asses the careers and salary you may obtain after such training in order to provide for yourself after the termination of the support.
Durational alimony is awarded to provide financial assistance for a set period of time not to exceed the length of the marriage. Durational alimony is awarded in divorces that do not meet the standard of permanent alimony, or where no other award may satisfy the parties’ needs. This award terminates on the specified date, or upon the death or remarriage of the recipient.
Permanent alimony is only awarded upon showing the recipient is unable to financially provide for themselves following the dissolution and no other form of alimony is fair or reasonable under the circumstances. This award is, by the nature of its title, permanent but it may terminate upon the death or remarriage of the recipient.
The factors that end all alimony awards is the death of either party or the remarriage of the receiving spouse. Death is difficult to plan for as it typically is unforeseen. However, one manner that you may financially prepare for such devastation is discussing with your Orlando Divorce Attorney the option of securing alimony payments with a life insurance policy. Within your divorce settlement, the obligated spouse may be required to secure such payments by taking out an insurance policy and naming you as the beneficiary. This will likely aid and provide you with more time to prepare for such support to terminate after the death of an obligated former spouse. Remarriage may also terminate an alimony award. If your former spouse has legally remarried, your alimony award will terminate on the date of their marriage. The Florida legislature has taken this a step further to include a supportive relationship. If your former spouse is engaged in a supportive relationship contact your Orlando Divorce Attorney today. Such relationship may result in a termination of alimony award if found by the court to be supportive in nature. However, factors such as cohabitation, length of relationship, marriage like activities will all be considered by the court and will need to be discussed with your attorney.
You will need to plan on how to support yourself after your alimony ends. Your Orlando Divorce Attorney can sit and flesh out the financial obstacles you may face at the termination of your alimony award that you may need to consider in your smart financial planning. If you need to modify your alimony order or need guidance in how to create a plan to become self-sufficient utilizing your alimony, contact an experienced Orlando Divorce Attorney. Speak to one of our Orlando divorce attorneys if you are facing an alimony issue. We accept calls 24 hours a day, 7 days a week. Contact us at 800-822-5171 orcomplete an online contact form to get in touch with a member of our team today. We also have offices in Panama City, Fort Walton, Pensacola, and Tallahassee Florida.