Going through a divorce can be an emotional and stressful process, especially when it comes to dividing finances and assets. One important aspect of this process is alimony, also known as spousal support. Alimony is a court-ordered payment from one spouse to the other to help maintain their standard of living after a divorce. This can be a crucial factor for many people, especially if one spouse was financially dependent on the other during the marriage. In this article, we’ll go over the different types of alimony used in Mississippi and how a court might consider the standard of living when determining alimony payments.
Types of Alimony in Mississippi
When it comes to alimony, there is no one-size-fits-all approach. Different types of alimony may be appropriate for different circumstances. The four most common types of alimony used in Mississippi are:
Temporary alimony is paid during the divorce process to provide financial support for the dependent spouse. This type of alimony is intended to help the dependent spouse get by while the divorce proceedings are ongoing. Once the divorce is finalized, temporary alimony will end.
Rehabilitative alimony is paid for a set amount of time to help the dependent spouse become self-sufficient and support themselves. This type of alimony may be appropriate if the dependent spouse has the potential to increase their earning power through education or training. The court may require the recipient of rehabilitative alimony to provide a plan for how they will become self-sufficient.
Permanent alimony is paid for an indefinite amount of time. It is typically awarded in cases where the dependent spouse is unable to support themselves, either due to age, health, or other reasons. This type of alimony is meant to provide a long-term solution for the dependent spouse’s financial needs.
Lump Sum Alimony
Lump sum alimony is a one-time payment that is meant to provide financial support for the dependent spouse. This type of alimony may be appropriate in cases where the paying spouse has a large sum of money available and wants to make a lump sum payment to satisfy their alimony obligation.
Calculating Standard of Living
When determining alimony, a court considers several factors, including the standard of living that was established during the marriage. The standard of living is based on the amount of money and resources the spouses had during their marriage and the lifestyle they maintained. The following factors may be considered when calculating the standard of living:
Income and Earning Potential
The first factor considered is each spouse’s income and earning potential. This includes salary, bonuses, and other sources of income. The court will also examine each spouse’s education, skills, and job experience to determine their earning potential. The goal is to ensure that each spouse has the ability to maintain a similar standard of living after the divorce.
Expenses and Debts
The court will also consider each spouse’s expenses and debts, including mortgage payments, utility bills, car payments, and credit card debt. This helps the court determine how much money is needed to maintain the standard of living established during the marriage. The court will look at each spouse’s expenses and debts separately, as well as the expenses they will have as a single person.
The court will also consider the lifestyle that was established during the marriage. This includes the type of home they lived in, the kind of car they drove, and the vacations they took. The court will attempt to determine how much money it would take to maintain a similar lifestyle after the divorce. The goal is to ensure that neither spouse experiences a significant change in their standard of living after the divorce.
Length of Marriage
The length of the marriage is also considered when calculating the standard of living. A long-term marriage may result in a higher standard of living compared to a short-term marriage. The court will take into account how long the couple was married and how long each spouse was dependent on the other during the marriage.
A Good Attorney Can Help
Alimony can be a crucial factor in a divorce, especially for those who were financially dependent on their spouse during the marriage. The standard of living established during the marriage is an important factor when determining alimony payments. Understanding the standard of living and the different types of alimony used in Mississippi can help make the divorce process a little easier.
If you are considering divorce, let the experts at The Law Offices of Rusty Williard help. We can find the right amount of alimony that allows you to maintain your standard of living. Call today at (601) 824-9797.