Protecting Your Financial Future In Spousal Support Matters
Our attorneys have more than 40 years of experience helping families navigate the murky waters of divorce. We understand how challenging the financial aspects of divorce are for families. The assets and income that used to support one household must now be stretched to support two separate residences.
Our goal is to advise you on divorce and all the related issues with timely, competent counsel. We will work through the difficult issues of child and spousal support with you, so that you can live independently and keep the children happy and healthy.
Contact the skilled alimony attorneys at the law firm of Coates & Davenport, P.C., in Richmond, Virginia, for seasoned alimony law counsel. A divorce settlement lawyer will meet with you one-on-one to discuss your personal priorities and what is important for your children.
Types Of Spousal Support
In Virginia spousal support can be awarded on a temporary or permanent basis:
- Temporary spousal support: Effective until the divorce is final
- Permanent spousal support: Check out Virginia code 20-107.1 to understand how alimony law affects you
How Is Alimony Determined?
In deciding to award permanent alimony, the court looks at a number of factors, including:
- How long the marriage lasted
- The income and earning potential of each spouse
- Ability of the payee spouse to receive and benefit from job training
- The standard of living enjoyed during the marriage
- Age and health status of each spouse
- Contribution of the payee spouse to child care and related matters
- Tax liabilities of each spouse
How Alimony Works
If the payee spouse is younger, and the marriage is shorter, the court may award rehabilitative alimony for education, job training or self-employment. Permanent or temporary alimony can be worked out as an agreement between you and your spouse or determined by the court in formal proceedings.
In Virginia you have “right of reservation.” That means that if your circumstances change in the future, you have a period equal to 50 percent of the duration of the marriage in which you can ask the court to reconsider spousal support.
Divorce And Bankruptcy
Spousal support is just one part of the divorce puzzle. When the divorcing spouses are struggling with debt, bankruptcy is a viable planning tool. If you are considering this option, consult a seasoned bankruptcy attorney at our firm.
Experienced Attorneys Protecting Your Finances In Divorce
Our attorneys defend clients seeking spousal support and those who provide it. Call the law offices of Coates & Davenport, P.C., to schedule a confidential consultation about your alimony concern. Call 804-729-5537, or write to us using this online form.