If life has taken you down an unexpected path, you don’t have to walk it alone.
How does alimony affect your Divorce?
The two big concepts that most people think about are how much and for how long. States like Colorado have a formula that can be utilized, but there are a lot of factors that come into play, whereas Florida has different rules and regulations.
Let’s say a husband was out working while the mother stayed at home and looked after the children. She wasn’t working for decades and had no money of her own, thus having no savings or income in the same sense as the fathers.
The relationship breakdown can leave the wife, in this example, vulnerable and incapable of looking after herself, so alimony exists to soften the transition to independent life.
But alimony isn’t gender-exclusive and can be paid to both men and women, depending on the circumstances.
If you’re facing divorce, and curious if you would qualify for alimony, it’s important to reach out to an attorney to guide you through the process.
Divorce can often lead to more changes than marital status. It sometimes involves different living situations as well.
It may be difficult to figure out what to do with your marital home when getting a divorce. You might want to stay in your house, or you might need to downsize and find a more affordable home instead. Similarly, if you have significant home equity in divorce, you might not be able to afford to buy out your spouse’s interest. If you have a mortgage in both of your names, selling a house during divorce and splitting equity might be the best solution to separating your finances.
Your divorce may not always align with the perfect time to sell your home. It’s important to have a dedicated real estate agent to help with the facilitation of such an important process.
Cheryl Singleton is a Real Estate agent serving the Denver Metro area with Cheryl Singleton Realty. She helps individuals navigate the tricky waters of selling a home during a divorce.
“No one is an island,” Cheryl shared with us. “We all need someone who can answer the tough questions and guide us through making the tough decisions.”
Chery is offering a current market analysis for our contacts in the Denver area, to help decide whether you should sell or have one party buy the other’s half. Reach out to Cheryl at [email protected] to learn more.
