In a divorce, spousal support might be one factor you have to consider. If it is, it’s a good idea to look into your spousal support options.
If you are the spouse who earns more, you may be the person paying out spousal support. You’ll have several options including paying support in a lump sum, paying over time or giving up assets valued the same as the support you are supposed to pay.
If you are the person who is hoping to obtain support, you’ll be able to negotiate for what you want or wait to see how much you’re awarded with the state guidelines. Not everyone is entitled to spousal support, so it’s a good idea to find out if it applies to your case.
What should you do if you can’t afford to pay spousal support?
If you can’t afford to pay spousal support and you’re ordered to pay, one option is to give up a larger asset or a portion of an asset to satisfy the bill. For example, if you sell your home and are entitled to a 50-50 share, you may give your spouse 60 or 70 percent of the profits instead, which may satisfy the amount of spousal support you’re meant to pay. This is something to consider if paying out support isn’t going to be possible after the divorce.
Our site has more on the options that you have if you want support or have to pay it. Good information goes a distance in spousal-support cases, so find out more about what you can do to satisfy support obligations.
