Depending on the length of your marriage and the financial resources of each spouse, alimony or spousal support may be an issue in your divorce case. At Iafrate & Salassa, P.C., we work with you to help determine if alimony is something you should pursue. If you are entitled to this type of payment, we may be able to have it awarded by the judge or included it as part of your divorce settlement. The following are factors that are generally considered in these types of cases.
Factors that Influence Alimony
Under the Michigan Revised Statutes, alimony may be awarded as part of a divorce judgment or in a settlement agreement to either spouse, provided the circumstances in the case warrant it. Factors that are a consideration in obtaining spousal support include:
- The length of the marriage;
- The age and health of each spouse;
- Each one’s income and earning potential;
- The manner in which they lived during the marriage;
- The amount of assets each partner possesses individually;
- Any sacrifices either party made in terms of career or education in support of their spouse or for children of the marriage;
- Unpaid contributions to the household or to any marital businesses;
- The contributions each spouse made in contributing to or decreasing the overall value of marital assets.
Additional Issues Impacting Spousal Support
While Michigan is considered a ‘no fault’ divorce state, marital conduct may be a consideration in alimony awards. If one of the spouses spent money on an affair or in indulging an addiction or gambling habit, it could entitle the other to alimony or a larger portion in a settlement. Likewise, a spouse is likely to be denied alimony if they were having an affair or engaged in other types of actions.
If you are entitled to alimony, you will want to consider the potential tax ramifications as well. Under Internal Revenue Service (IRS) guidelines, the person who pays alimony may deduct it from their taxes, while the receiving spouse must claim it as income.
We Can Help You Today
When it comes to issues in your divorce that have the potential to impact your financial security now and in the years to come, you need professional guidance from an experienced Michigan divorce attorneys. Call or contact Iafrate & Salassa, P.C. online today and request a free consultation to discuss the options available in your divorce case.