Divorce With Respect

How to make the most of your spousal support in the time you have

On Behalf of | Mar 21, 2022 | blog, Family Law |

A common misconception is that spousal support is a factor of divorce with no end date. While there are cases in which courts may assign permanent spousal support, they also often impose only temporary support. How long these payments last depend upon the circumstances of the marriage, with the length of the union being one of the most important factors.

A general rule judges may abide by is for marriages less than ten years in duration, spousal support lasts half the length of the marriage, though it is at their discretion whether to do so or not. Permanent support is more common in divorces where the marriage lasted longer than ten years. There are certain changes in the situation that may result in the extension or cut off of spousal support. If you are on temporary spousal support it is important to make the most of it.

Develop a plan

Think about what you want for your future and write out what you need to do to achieve your goals. List milestones you need to reach and make a budget/financial plan to help you along the way.

Create a nest egg

Put aside money in a savings account. Designate a portion of each payment for an emergency fund for unexpected expenses such as an automobile malfunction.

Invest in further education or a business

This especially applies if you were a stay-at-home parent and thus lost valuable career opportunities and experience being out of the workforce. Take the time afforded by the support to obtain training, a degree or a certification to help you find a good job. If traditional employment is not for you, consider becoming an entrepreneur.

Using the period in which you have spousal support to plan and prepare may help you obtain the future you want.