Common Mistakes Men Make With Alimony
For many people, going through a divorce or separation can be taxing, both emotionally and financially. Many men are often required to pay their ex-spouses alimony to support them, but only 3 percent of the 400,000 people receiving alimony are men. Unfortunately, there are a few common mistakes that men who are required to pay alimony often make.
Hiding or Spending Money
In an effort to reduce what they have to pay to their spouses, many men opt for hiding their money in other accounts or spending the funds that they already have to reduce the spousal support they will have to give to their exes. These men are still required to pay more because the rate is based on an individual’s income rather than how much money is sitting in his bank account. Those who are caught diverting part of their earnings will hurt their credibility. It’s best to pay the required amount and play it safe to avoid having it affect your financial state long term.
Failing to Obtain Legal Representation
Many people don’t understand how complicated and rigorous the process can be when heading to court for an alimony case. Many men overlook the need for the assistance of a lawyer. Without the help of an attorney, it can mean having to pay more in spousal support than necessary. A lawyer can inform an individual of his rights and could help lessen the impact of his financial loss after the divorce is finalized. A legal professional will work hard to defend his or her client and evaluate the details and facts of the situation to determine how much the other party needs to maintain his or her lifestyle. With the help of an attorney, it can also be easier to navigate the process and know what to expect due to the professional’s experience and knowledge.
Choosing Lump-Sum Payments
It can be easy to assume that choosing to pay a lump sum to the other individual can be more convenient when paying alimony. Some people think that this will allow them to pay the least amount of money or that it can help them get out of the situation quickly and move on with their life. Although you may want to wipe your hands of the divorce, it can cost you more to pay money up front rather than over a period of several years. Long-term payments that are made are often more affordable because the agreement can always be terminated. If the wife ends up remarrying another person or moves in with another individual, then it is grounds for discontinuing the support that is provided by the former husband.
Failing to Specify Grounds of Termination
Issues often occur when the grounds of termination for the alimony are not specified and are vague. In the agreement, specific language needs to be used, which can include if the man’s financial situation changes in the future or if one of the parties remarries. It’s important to use language that is specific to avoid confusion. Strong language needs to be used in the paperwork to ensure that both parties understand the terms and that the person paying alimony is protected if he ever seeks to terminate the agreement.
A Lack of Self-Care
Taking care of yourself after going through a divorce and starting to pay the spousal support payments is necessary to avoid becoming bitter and overly angry at your ex. Although it’s not always easy to pay alimony long term, it can be challenging to make informed decisions and think clearly when you’re upset. It’s best to seek the help of a counselor or therapist to help you maintain your emotional well-being and continue to protect yourself with each decision that is made. It will also make it easier to move on from the situation and look forward to the future.
The Law Office of Joanne Kleiner is here to assist you if you have a legal situation involving payment of alimony. With the help of our practice, we’ll make it easier to know how to protect yourself and reduce the impact when going through a divorce. Call us in Jenkintown at (215) 886-1266 for the assistance you need during this trying time.
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