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Negotiating Alimony
Here are some ideas that might help you reach agreement when you
negotiate alimony.
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Know your state's law. Bruce and Alexandra consult the standards and trends
for granting alimony in their state. Some states frown on alimony in
general. Other states tend to be very generous, especially in the
case of marriages of ten years or more. This may give you a benchmark
against which you can work.
Bruce and Alexandra's state is covered in
the "Law" tab of this program, so they start by reading the
material there. This is also the kind of information that most
lawyers and mediators in your state will know. You will have to pay
their hourly rate to hear it from them.
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Know your budget and plan. Alexandra has worked out her theory of her
alimony request. Her theory is economically-based, not fault-based.
She says, "I need $10,000 a year for three years to finish my degree,
then $5,000 a year for three more years while I get started."
Alexandra's friend also received alimony, on the theory that the friend raised
the kids, gave advice and moral support in the business for 15 years,
and sacrificed her ability to get ahead in the job market. Alexandra
has a clear and complete projection of her expenses (which she
prepared using this program), to ground her argument in economic
reality.
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View alimony as investment. Bruce thinks of alimony as an investment.
He knows that the happier Alexandra is after the divorce, the more likely
it is that she will be able to get a good job, and the more likely
she will be to remarry and reduce her alimony need.
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Leave remarriage open. Many settlements specify that alimony
terminates when the recipient remarries. Bruce and Alexandra specify
instead that the settlement will be renegotiated at that time.
Bruce certainly wants to be relieved of the obligation to pay alimony upon
remarriage. But he knows that if he specifies that now, it might
discourage Alexandra from thinking about remarrying. And when the actual
situation presents itself, they can try to work out something fair at
that time. Maybe the new husband will be able to support them, and
maybe not. But they can't know now.
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Negotiate retirement. If the alimony is "lifetime," Bruce wants
to be sure that it is reduced when he retires. He doesn't know
exactly when he will retire, so he and Alexandra negotiate that the
alimony will be reduced when Bruce turns age 67.
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Negotiate death. Specify what will happen on the death of either
party. Some agreements require the payer to maintain life insurance,
which names the recipient as beneficiary.
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Disclaimer: We are not giving legal advice. No warranties. We disclaim all legal liability. More...
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