Settling on fair alimony payments is possible

Throughout the country, several state legislatures are considering reforming their alimony laws. The idea of implementing reforms has ignited discussion over the intents and purposes of paying alimony to ex-spouses. By gaining a better understanding of what exactly alimony payments are for, Minnesota couples headed for divorce can be adequately prepared to reach an agreeable, fair settlement.

Of course, divorcing involves splitting up marital property. Beyond the divided assets included in a divorce settlement, many divorced couples have arrangements to pay a specified amount of alimony from one spouse to another after a divorce is settled.

Though it may seem odd for one spouse to be paying their ex-spouse years after a divorce is finalized, alimony was created with the idea that one spouse makes sacrifices in order for the couple to succeed. For example, one spouse will put their career or education on hold so the other can further their education or career to better support the family. That sacrifice is supposed to be accounted for through alimony.

During the course of a marriage, spouses get used to a certain kind of lifestyle based on the assets and income they share. After a divorce, one spouse might be faced with a significant re-adjustment period. Alimony payments can help a person ease into life after divorce. In other words, alimony should not always be viewed as a punishment, but as a way to resolve the "perceived inequity in the results of the marriage between both of the parties" in the course of divorce.

Of course, not every alimony arrangement is satisfactory. A spouse's financial situation at the time of divorce may not be the same 10 years later when alimony payments are still in place. As such, it's a good idea for divorcing couples to reach a mutually agreeable arrangement at the time of divorce and consider all of their options down the road.

Taking into account all of the aspects aspects that figure into determining whether or not alimony will be included in a settlement should be of particular concern to Minnesota couples with significant financial assets. The help of trustworthy legal counsel can make sure that alimony payments accurately and fairly reflect the needs and financial situation of divorcing couples.

Source: LawGuru, "The Ins and Outs of Alimony Payments After a Divorce," Feb. 22, 2012