In the event of a divorce, one spouse may be required to pay spousal support to the other. Spousal support, or alimony, is monetary compensation paid if there is a vast discrepancy in the spouses’ earning power during marriage.
This video explains the basics of these payments following divorce. The amount of alimony may be contingent on the amount of time needed for the second spouse to become self-sufficient. For instance, it may cease after the second spouse finishes going back to school or finds a well-paying job. Similarly, alimony generally stops when the spouse receiving the benefits gets remarried or if the bread-winning spouse dies.
Spousal support agreements can have far-reaching consequences on both partners’ finances. An experienced California attorney will help ensure that your money is protected and that you receive the support you deserve following a divorce. For more information, contact the San Jose offices of The Moreno Family Law Firm at (408) 266-9011.