It is no secret that alimony is a complex matter. But, educating yourself on the topic can be extremely illuminating. Read on to learn more about alimony in New York.
What Types of Alimony are Awarded in New York?
There are three main types of alimony payments in New York. This includes:
- Permanent alimony: This stays in effect either indefinitely or until a change occurs in either party’s circumstances. It can be ordered based on the duration of the marriage. A marriage that lasts up to 15 years may see alimony for 15 to 30% of the duration. Between 16 and 20 years, the payments may be ordered between 30 to 50% of the duration. For marriages that last 20 years or more, it may be between 35 to 50% of the duration.
- Rehabilitative alimony: This alimony may be ordered if one spouse puts off their career in order to support the family. This is so that the dependent spouse can receive the education or training they need.
- Reimbursement alimony: If one spouse financially supports their partner so that they may pursue education or training, this alimony can reimburse them.
How is Alimony Determined by a Court?
When making a decision about alimony, a judge will consider the following factors:
- Income and property
- Child support obligations
- Child custody arrangements
- The ages of both parties
- The health of both parties
- Each party’s earning capacity
- The dependent spouse’s need for education or training
- The dependent spouse’s deferred life goals
- If there are any tax consequences
- Caring for family members
How long will I have to pay alimony?
The amount of time you will have to pay alimony depends on the length of your marriage:
- 15 to 30% of a marriage that lasted 15 years or under
- 30 to 40% of a marriage that lasted between 16 to 20 years
- 35 to 50% of a marriage that lasted 20 years or more
If you have any questions or concerns about alimony payments in New York, our firm is here to help. Reach out today to discuss your options with an experienced attorney.
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