The Economics of Divorce

Divorce can have a significant financial impact for both spouses. This is especially true if the couple is middle class or low-income. Following a divorce many people must find a job, finish their education or work less to devote more time to childcare.

There are many advocates of stay-at-home parents finding a way to keep their feet in the workforce in some way. With advances in technology, working from home can be a very real and manageable option. Even if it means volunteering for a nonprofit, it is something one can put on their resume if they must find a job later in life.

It is important for you to understand that a spousal support award will not be made unless there is a demonstrated need, regardless of the income of the other spouse. Additionally, even if one spouse has a need, but the other party does not have the ability to pay alimony, an award will not be made. Florida statutes set forth the criteria to establish need, income and ability to pay. Below are a few of the factors the court must consider:

• The standard of living established during the marriage.
• The duration of the marriage.
• The age and the physical and emotional condition of each party.
• The financial resources of each party, the non-marital and the marital assets and liabilities distributed to each.
• When applicable, the time necessary for either party to acquire sufficient education or training to enable such party to find appropriate employment.
• The contribution of each party to the marriage, including, but not limited to, services rendered in homemaking, child care, education, and career building of the other party.
• All sources of income available to either party.
• The court may consider any other factor necessary to do equity and justice between the parties.

If you have questions regarding alimony or how we can assist you with your divorce, contact the Men’s Divorce Law Firm today. Our approach to family law is quite simple: we listen to you; we return your calls promptly; we keep you prepared and informed; we respect your time; we understand your concerns; and, most importantly, we care.