Not every high asset marriage ends with the parties emerging with equal shares in their apparently vast wealth. Depending upon the presence of prenuptial agreements, the manner in which assets were held or used during the marriage and other factors a Florida resident who lived a wealthy married life may find that their financial power diminishes significantly after their relationship is over.
When one party to a marriage may be financially disadvantaged after their divorce is finalized, it is possible for a Florida court to grant that individual alimony. Alimony is the payment of money from one former partner to the other for the benefit of supporting the recipient. Under Florida law, alimony may take on many forms, and this post will touch briefly on several of those arrangements.
The type of alimony award that a person may receive will greatly depend upon for how long they will need alimony after their marriage is over. If they only need financial support from their ex-partner for a short duration of time, then the award may be of the bridge-the-gap alimony format. Alimony that is to be used by the recipient to prepare themselves to re-enter the workforce and that may be used to further the recipient’s education or job training is considered rehabilitative alimony.
Alimony that is not intended to last forever but that will last longer than the statutory maximum established for bridge-the-gap alimony is termed durational alimony. Any alimony award that is intended to last until the death of the recipient is termed permanent alimony.
A host of factors must be considered before a court will agree to award alimony to one party to a divorce. To learn more about alimony options in Florida, readers are encouraged to discuss their family law cases with their personal attorneys.