Realistic expectations during alimony negotiations

Realistic expectations during alimony negotiations

On Behalf of | Jul 24, 2018 | Alimony And Child Support, Firm News |

One of the most difficult-to-navigate processes of any divorce is negotiating spousal support. Experts say after everything else in a divorce has fallen into place, alimony is typically the last piece that completes the puzzle. In Wyoming and other states, preparation is often the best defense during complex alimony negotiations.

Having a keen understanding of personal finances and earning capacity can give a person the upper hand when it comes to negotiating a fair settlement. It is never recommended to waive one’s right to alimony because, once waived, the opportunity is gone forever. Experts suggest that any person who relies on a paycheck to survive should keep the doors open to allow for renegotiations.

It is important to research one’s state laws to determine the different types of alimony and how long a person can receive it. There are few state guidelines regarding alimony, and each divorce is case specific. A good rule of thumb is that alimony will last for a duration that equates to about half the length of the marriage. With that in mind, now might be a good time to set goals and put a plan into motion towards financial independence.

The least favorite part of any divorce is the prospect of giving money to an ex-spouse. During divorce, negotiations involving alimony, preparation and effective planning can be an important bargaining tool at the settlement table. A consultation with an attorney experienced in alimony negotiations in Wyoming can help determine the right approach to clinch the best settlement deal for his or her client.