When Georgia couples think about divorce, they may be especially concerned about the financial ramifications of ending a marriage. Not only does divorce come with the division of marital property, but alimony could also be part of the final settlement. Depending on the situation, spousal support may be temporary or long term.
Child support is also common after a divorce. As difficult as it may be from time to time, most parents understand the importance of supporting their children financially. However, alimony can carry heavy emotional baggage, especially when the recipient of spousal support initiated the divorce. Thinking clearly about the financial side of divorce can help spouses to prepare for the emotional and practical costs. Short marriages are unlikely to lead to alimony of any lengthy period unless there was a prenuptial agreement providing for it. When couples have been married for more than a decade, longer-term alimony may be an expected outcome.
There are a number of factors taken into account when calculating a payment amount. For example, if one spouse left the workforce to stay at home, they may receive support for job retraining. When the higher-earning spouse has significant wage fluctuations, a five-year average will likely be taken into account. If finances change in the years following the divorce, it is possible to seek a modification.
When thinking about the financial effects of divorce, it can be important to receive professional advice and guidance. A family law attorney can provide detailed information and strong representation throughout the divorce process on a range of matters, including alimony and asset division.