An Overview of Determining Alimony in New York

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Alimony is defined as payments made from an ex-husband or ex-wife to the other over a specific amount of time. This amount is agreed to by both parties during their divorce proceedings, and various factors determine the length of time it must be paid. The topic of money is always a complicated and challenging one, and usually requires intervention from NYC lawyers to come to a fair and appropriate agreement. We’ve provided a brief overview of how alimony is determined in New York.

Methods For Calculating Alimony In New York

Your divorce lawyer in New York will explain the two main methods for calculating alimony.  Method one states you use 20% of the payor’s annual net income, subtract 25% of the payee’s annual net income, and divide the number by 12. Method two states you take 40% of each spouse’s annual net income combined, subtract the spouse’s annual net income receiving the payments, and divide the number by 12.

It’s easy to see how complicated this can get and how disagreements can be sparked when calculating the amount. Each method provides a different result, and neither result is typically ideal for both parties. Another factor that complicates the matter even more, is the $184,000 upper-income limit used when calculating alimony in New York. This means that no matter how much one spouse earns, only $184,000 is considered when putting together the calculations.

How Alimony Impacts Child Support

The top law firms in NYC will be very clear in stating that alimony is different from child support payments. However, since alimony is considered to be income to the party receiving it, and a reduction of income to the party paying it, the child support calculations are greatly impacted. To determine fair alimony and child support payments, NYC lawyers will need to focus on both amounts at the same time. If you focus only on alimony before considering child support, then you’ll likely have to make adjustments to the alimony after child support has been calculated and vice versa.

Duration Of Alimony

How long alimony payments must be made is always a common question. The answer is it varies depending on how long you were married to your ex-spouse. For example, if you were married for less than 15 years, then the duration of alimony payments could be between 15%-30% of the number of years you were married. And if you were married more than 20 years, the duration could be between 35%-50% of the number of years you were married. Having children in the equation can impact the duration as well, which is why it’s important to have a divorce lawyer in New York evaluate every aspect for you.

Rely On A Divorce Lawyer In New York To Help Determine Alimony

The best NYC lawyers will fight for you to either get the highest alimony payment possible or reduce it as much as possible, depending on which side you’re on. Determining alimony is one of the most complex issues to deal with during a divorce proceeding, so having a reputable and trustworthy lawyer on your side can make the process easier. Gordon & Gordon has many years of experience helping clients with their alimony payments, so contact us today to schedule a consultation and review your case.