What You Need to Know When Seeking Alimony From a High-Earning Spouse
Following a divorce, ex-spouses should be able to maintain the lifestyle they enjoyed during their marriage. When one spouse earns a large income, he or she may be required to pay spousal maintenance to his or her former partner. However, a maintenance award is not guaranteed, and this issue often results in contentious battles in divorces that involve a high net worth, particularly when one spouse has a high net worth and the other, on paper at least, does not.
If you have stayed home to care for children, or if you have been trying to get an education while your spouse has earned the majority of the family’s income, you may be able to receive maintenance (formerly known as alimony) following your divorce. In order to ensure that you receive the spousal support you deserve, you will need to keep the following tips in mind:
The first thing to do when seeking maintenance in a high net worth divorce is to gather relevant financial documents. Obtain as much information as possible about the income earned by your ex-spouse, including pay stubs, bank statements and records related to investments or business interests. This information can be used to show how money was handled during your marriage and demonstrate that your ex will have the means to provide the support you need.
Figure Out Your Expenses
In many marriages, one person handles the money. However, following divorce, each spouse will need to handle his/her own expenses and ensure needs are met. Whether you will be remaining in your home or finding a new living situation, you should determine the expenses that you will need to cover on a monthly basis, including food, utilities, gasoline and any other necessary costs. Fully documenting the expenses involved in maintaining your lifestyle can help prove the need to receive support payments from your ex-spouse.
In any maintenance case, both spouses should be sensible about their needs and expectations. If your spouse earns a large income, he or she did not get there alone. Having someone at home taking care of the children and the household is a key part of a person’s career success, and this should not be forgotten when a marriage ends. Likewise, if you are seeking maintenance, you should expect to receive an amount that will allow you to meet your needs. The judge in your case will determine if both sides are being reasonable, and the decision to award maintenance may rest on your ability to show that ongoing support is needed.
Contact Our Hoffman Estates Spousal Support Attorney
If you are considering divorce, and your spouse earns a high income, you should work with an experienced attorney to demonstrate that you should receive spousal support. Mt. Prospect spousal maintenance lawyer Nicholas W. Richardson knows how to aggressively advocate on your behalf, and he can help you receive the maintenance award you deserve. Call our office today at 847.8736741 to schedule your free consultation.