Divorce can be taxing on more than your emotions. It can also bring significant financial change to your life. When a marriage ends, balancing your post-divorce finances should be a priority for you. Alimony may be a key financial component.
What types of alimony payments are there?
Alimony, or spousal support, is financial support that one spouse may need to pay to another after separation or divorce. South Carolina law provides different types of alimony and spousal support:
- Temporary Spousal Support: Temporary spousal support may be paid while the litigation is pending.
- Lump-Sum Alimony: A one-time payment of a predetermined amount, or a total amount may be paid in installments over a defined period.
- Permanent, Periodic Alimony: This alimony is paid in monthly installments. It may terminate on the death of either party, the payee spouse’s remarriage or cohabitation of either party. It can be modified by a party proving a substantial change in circumstances.
- Rehabilitative Alimony: Offered for a defined period to allow the receiving spouse time to gain necessary skills or education to support themselves.
How is alimony determined in South Carolina?
Your family law attorney will advise you as to your spousal support and alimony claims. South Carolina law lists factors for the Court to consider when making an alimony or spousal support award.
- Duration of the Marriage: Generally, the longer the marriage, the greater the likelihood and potential duration of alimony.
- Economic Circumstances: The court examines both spouses’ financial situations, including their earning capabilities.
- Contributions to the Marriage: This includes financial and non-financial contributions like homemaking, child care, or supporting a partner’s career.
- Fault in Divorce: The circumstances leading to the divorce such as infidelity or other fault may also impact alimony decisions.
Because no marriage is the same, there is no set formula for calculating alimony or spousal support. Other factors may include the parties’ physical and emotional conditions, educational backgrounds, child support and custody agreements, and more.
Understanding these factors can help you anticipate any alimony decisions in your case. But there is more to it than that. You must also be wondering…
How are alimony decisions made?
Fair and sound decisions can be made in several ways:
- Family Court: South Carolina Family Court judges will award alimony by carefully weighing all relevant factors.
- Mediation: Many couples reach alimony agreements through mediation, which provides more control over the outcome and results in an amicable settlement.
- Post-Settlement Modifications: Life is unpredictable. If significant changes in circumstances occur, alimony may be modified.
Consulting with a trusted family law attorney is an excellent first step in deciding your path forward. A knowledgeable lawyer can explain all relevant factors and use their experience to determine the best course for you.
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