If you are going through a divorce, then one of the things you will need to hash out is alimony. This can be a tricky issue, as there are many factors to consider. Here are two tips to help negotiate a good alimony agreement.
Know Your Worth
Before you even start negotiating, have an idea of what you are worth and what you need to live on. This information will help you come up with a realistic number for alimony payments.
For instance, suppose you were a stay-at-home parent during the marriage. You will need to think about things like childcare, transportation costs, and health insurance. In this case, you will likely need more financial support than someone working throughout the marriage.
If you were working during the marriage, you would need to consider your current salary and the cost of living in your area. This strategy will give you a good starting point for negotiations. You can argue that you should receive enough alimony to maintain the same standard of living you had during the marriage.
A divorce attorney can help you determine a fair amount of alimony. They will take into account factors such as your income, your spouse's income, the length of your marriage, and any custody arrangements.
Consider All Your Expenses
When you are negotiating alimony, think about all your expenses. This includes both fixed and variable costs.
Fixed costs are things like your mortgage or rent payments, car insurance, and student loan payments. These costs can be difficult to reduce, even if you tighten your budget. That's why you need to make sure your alimony payments cover these expenses.
Variable costs include things like food, gas, and entertainment. These expenses can fluctuate from month to month, so ensure your alimony payments are enough to cover them.
You will also need to think about the future. For instance, you may need to save for retirement or your child's college education. Think about what you need now and what you will need in the future. This information will help you come up with a fair alimony agreement.
Your attorney can help you calculate your monthly expenses. This information will give you a good idea of how much money you need to cover your costs.
Alimony can be a tricky issue to negotiate, but these tips should help. Be sure to have a realistic idea of what you need and what you are worth. Consider all your expenses, both fixed and variable. And don't forget to think about the future. With these things in mind, you should be able to come to a fair agreement.
