Alimony or Spousal Support
First and foremost, alimony is financial support that one spouse will be required to pay either during or after their divorce. In some situations, a spouse may be required to pay before and after the divorce is finalized.
The alimony will help the one spouse maintain an affordable standard of life after their divorce is finalized.
In the state of Nevada, the court will have to consider a few factors when it comes to alimony such as is the spouse financial unstable or is the spouse unemployable.
It is very common that the ex-wife will receive alimony, but either spouse is in their legal rights to ask for alimony and the judge will have to factor in the one spouses living needs and the other spouses ability to pay and still live a reasonable standard of life.
Alimony can either be paid in one lump sum or small scheduled payments for a certain amount of time.
Spousal Support Vs Alimony: What’s Differs Them?
To be honest, the terms are very interchangeable.
But you are still probably confused at what is the difference between spousal support vs alimony, but let’s be honest there is no difference.
Many Hollywood celebrities will use spousal support vs alimony. While the average working person will say alimony rather than spousal support.
Alimony or Spousal Support Eligibility in Nevada
During your divorce proceedings, you are more than welcome to request spousal support or alimony.
You should know that alimony is typically only given when there is a big difference between the two parties’ incomes. This typically will happen when one of the parties gave up their career for the sake of their marriage. The state of Nevada court will take into consideration the following factors when granting alimony:
- Duration of the marriage
- Receiving spouse’s capability to support themselves
- Receiving spouse’s education while they were married
- Receiving spouse’s chances of gaining employment
- Did the receiving spouse give up his or her career to be home with the children?
- Did the receiving spouse get the property award?
- The dispensing of income between the two parties along with the future earnings between the parties.
What Types of Alimony are There?
The Nevada state court can award spousal support or alimony several ways. Here are the more common ways.
Rehabilitative alimony is where one spouse will be required to give alimony for a short amount of time, so the other spouse can get job skills or education.
Lump Sum Alimony
Lump sum alimony is where the spouse will settle for a large lump sum of money rather than make monthly payments for a certain amount of time.
Periodic alimony is the opposite of lump sum alimony. Periodic alimony is where the spouse will make monthly payments for a certain amount of time instead of giving a large lump sum once.
Just as the name infers permanent alimony will never stop. The only time permanent alimony will stop is when either party dies or until the party that is receiving alimony remarries. However, permanent alimony is not as common as you would think.
Modifying Alimony or Spousal Support
Both parties can modify the alimony award even after it is made. However, both parties will only be allowed to modify future payments. Past payments will never be permitted to be modified.
Also, an alimony award can be terminated or decreased if either party’s financial situation changes during the duration that the alimony is awarded. For instance, if the paying party cannot afford it anymore, the alimony could either be decreased or terminated.