Recent Alimony Shifts and the 35% Rule
Recently the state of Florida enacted changes to alimony laws, impacting how spousal support is determined and awarded in divorce proceedings. These reforms aim to streamline the alimony process and make it more equitable for both parties involved.
The 2023 changes to spousal maintenance following a divorce represent a shift towards more temporary and formula-based support, aiming for greater fairness and predictability. To learn more about how this could impact your situation, connect with an Orlando family lawyer.
Net Incomes and the 35% Rule
A significant element of the alimony reforms is the introduction of the 35% rule. This rule stipulates that the amount of alimony awarded cannot exceed 35% of the difference between the net incomes of the divorcing spouses. So, if one spouse earns significantly more than the other, the alimony will be capped at 35% of the difference in the net incomes of the husband and wife, preventing excessive financial burdens on the paying spouse while ensuring adequate support for the receiving spouse.
Additionally, a notable change is the elimination of permanent alimony. Previously, permanent alimony provided lifelong financial support to a spouse. The new law replaces this with durational alimony, which is designed to be transitional. The duration of alimony payments is tied to the length of the marriage.
Sometimes referred to as net earnings, net income is the amount of money an individual has after subtracting costs and taxes from their gross income. To accurately determine net income, an array of documents will need to be provided, including complete tax returns for the past few years, recent pay stubs that illustrate current income levels and deductions, and bank statements that provide data about income and expenses. Documentation of mandatory retirement contributions and health insurance premiums will also be reviewed.
Ensuring a Fair Settlement with Legal Assistance
Navigating the complexities of alimony law can be challenging, especially with the recent changes. This is where an experienced attorney becomes indispensable. A skilled lawyer who is up to date on Florida law will:
- Evaluate financial information. Carefully and accurately assess the net incomes of both parties to ensure a fair alimony calculation.
- Advocate for equitable support. Present compelling arguments regarding contributions to the marriage, needs, and earning capacities to secure a just outcome.
- Negotiate effectively. Skillfully negotiate settlements that reflect the client’s best interests, potentially avoiding prolonged litigation.
- Ensure compliance with new laws. Stay updated with the latest legal changes to provide relevant and strategic advice.
Knowledgeable Orlando family lawyers are available to help. Having a legal expert assess your case could be key to you having financial stability and peace of mind, today and into the future.
Do you want to be sure you are receiving the spousal support you have a right to? When you work with the family law attorneys at Donna Hung Law Group you can navigate the legal landscape with confidence, ensuring that all aspects of your financial situation, including alimony, are addressed fairly. Call 407-999-0099 or contact us online to book your confidential consultation.
