Alimony is basically financial support that is paid from one spouse to another spouse till the predefined alimony time. In New York, the amount of alimony is normally paid with the purpose of supporting the other spouse who is not earning or earning less or is not self-sufficient to manage his life.
In New York, along with alimony amount, duration of alimony is also calculated. As of October 12, 2010, New York has enacted spousal support guidelines on a temporary basis that determine the amount of support calculated based upon a formula using a percentage of each spouse’s income.
Calculations for alimony are often found complex as they involve many factors to be considered such as the actual individual income, property of a couple, effect in financial status of individuals as singles in their future etc.
There can be many forms of Alimony like:
- Permanent period alimony is monthly payment that one spouse pays to the another till either of both are alive
- Duration alimony is the where there is a payment of pre decided amount to the spouse “in-need” for the said period of time.
- Rehabilitative Alimony is where the week spouse can receive the alimony money for some gain like education course or some skill development program etc.
- Bridge the Gap Alimony is paying the spouse for a short period of time, until the spouse is reestablished up to the level that he / she can manage the financial burden.
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