Seeking The Right Compensation Arrangement
Spousal support involves the payment of support by one spouse to the other. Also known as alimony, a spouse is compensated so that they can maintain the lifestyle she or he was accustomed to during the marriage or domestic partnership. It can also provide funds for specific needs such as education or training so that you can better support yourself.
It involves more variables than child support, whether it is a domestic partnership or a traditional marriage. Since Oregon is a no-fault state, a spouse or partner here in Portland can leave against their spouse or partner’s wishes and still get support.
What Type Of Spousal Support Is Right For You?
There are three categories of spousal support here. Each addresses specific areas:
- Transitional spousal support: This is for spouses who need to be trained or educated so they can re-enter the job market or advance their career beyond its current level.
- Compensatory spousal support: This is for a spouse that made significant contributions to the financial, educational or career advancement of the other spouse who now earns most of the family’s income.
- Spousal maintenance: This type of support is for payments that are either ongoing or for a specified time.
Key Factors Considered In Your Spousal Support
There are a number of different factors weighed to varying degrees to determine which type is most appropriate. These include the following:
- Length of marriage or domestic partnership
- Age of spouse or domestic partner
- Income, earning capacity or work experience of each party
- Financial needs or resources of each spouse or domestic partner
- Training or employment skills of supported spouse or partner
- The tax consequences to each party
- Any other factors the courts or attorneys deem just and equitable
Whether you are a stay-at-home mother raising the kids or a business executive protecting your assets, guidance from a lawyer can be useful. I also work with knowledgeable financial people to determine the income and worth of you and your spouse. We are quick, thorough and cost-effective.