Making an Alimony, Child-Support Plan
If you and your spouse have decided to split, or even if you’re just beginning to consider it, knowing what to expect with the process can help you more successfully navigate the ups and downs it will bring. Stress, emotion, and uncertainty are all sure to accompany you on your road to divorce. We’ll be there too to keep the road as smooth as possible and make sure your legal rights are protected.
As we discussed in our last post on the dos and don’ts of divorce, money is a huge factor in divorce cases. Understanding your financial situation is imperative for helping you plan for both the divorce itself as well as life after divorce. Included in the category of money are the possibility of alimony and child support payments, depending on your family and financial situation. Here are some important dos and don’ts for making an alimony and child-support plan as you prepare for divorce:
DO organize your financial documents.
We can’t stress enough how important it is to get organized financially prior to divorce. In the divorce process, you will be asked to unearth all of your assets and debts, so plan ahead by familiarizing (or re-familiarizing) yourself with your income and expenses, retirements and savings accounts, and any and all other financial assets. Having everything in one place will save you time and headaches down the road as well as give you a clearer picture of your financial health, which may look differently once your ex is out of the picture.
DO understand how child support is calculated in Florida.
Child support in Florida is calculated based on your monthly income and the number of children you have, and it’s something you can calculate yourself so there are no surprises by the number in court. To learn more about child support calculations and find out how to calculate your payment obligations, read our post on Florida guidelines for child support.
DON’T bank on receiving alimony as part of your divorce settlement.
Alimony or spousal support is no guarantee in divorce, and when it is awarded, it may not be awarded for an indefinite period of time. A judge will make a determination based on one spouse’s financial need and the other spouse’s ability to pay. And these situations can certainly change post-judgment. If and when they do, you may be back in court seeking a post-judgment modification to your alimony plan.
Court-ordered financial obligations following divorce don’t have to come as a surprise. You can and should plan ahead by understanding your financial situation and working with your family law attorney to determine the best approach for your case in court. At the Vasquez de Lara Law Group, our team is dedicated to ensuring that you get the best possible outcome for your situation. Contact us today to schedule a confidential case evaluation.