How to Limit Alimony in a High Net Worth Divorce
Alimony is not an issue in all divorce cases but when a couple or spouse has a high net worth, spousal support must usually be negotiated. Due to the high income of one spouse in a high net worth divorce, amounts of alimony are usually higher. However, there are ways to limit the amount of support paid after divorce. Below, our Tampa alimony attorney explains further.
Focus on Finances
If you can build a strong case based on your financial ability, it could help reduce alimony payments. For example, high net worth individuals often have multiple sources of high income. Likewise, they often also have significant expenses and possibly even high amounts of debt. It is critical to consider all of these so you can present the full picture on the amount of finances you actually have, instead of focusing solely on income.
Establish Autonomy
Alimony is intended to help a lower-earning spouse support themselves financially after divorce. If you can establish that your spouse can already support themselves and they do not require financial help, this can be a strong strategy to reduce alimony amounts. You can build a strong case by showing your spouse’s professional experience, educational background, and employability as proof that they can support themselves and maintain a reasonable standard of living.
Prenuptial and Postnuptial Agreements
One of the best ways to protect yourself from high alimony payments is to draft a prenuptial or postnuptial agreement. Both of these documents outline financial terms in the event that a couple divorces in the future. While prenuptial and postnuptial agreements are common in many marriages, they are essential in high net worth cases. Neither a prenuptial or postnuptial agreement can completely waive the court’s authority, but they can waive alimony or reduce the amount of payments.
Consider a Lump Sum Payment
Lump sum payments of alimony in Florida are also a possibility. Although most people do not choose this type of payment, it can be more practical for individuals with a high net worth. When the alimony recipient receives a lump sum, they may also be more amiable to receive a slightly lower amount.
Property Division as an Alternative
Some alimony recipients may also be willing to receive certain types of property in exchange for alimony. For example, if a couple has a valuable art collection, the lower-earning spouse might be willing to include that as part of their divorce settlement and waive their right to alimony.
Our Alimony Attorney in Tampa Can Help with Your Case
Alimony can become a very contentious issue during a high net worth divorce. At Florida Law Advisers, P.A., our Tampa alimony attorney can advise on the different strategies to limit payment amounts and help you determine which one is right for your case. Call us today at 1 (800) 990-7763 or fill out our online form to schedule a consultation with our experienced attorney and to learn more about how we can help with your alimony issue.
Source:
leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.08.html
