Understanding Alimony Laws in Concord, NC: What You Need to Know

When seeking a divorce in Concord, North Carolina, you may be concerned about your future financial stability and security. Alimony, or spousal support, is often a critical aspect of many divorce cases, yet the laws that surround these arrangements can be confusing. However, with the help of a Concord alimony lawyer, you have all the knowledge necessary when it comes to understanding alimony laws in Concord, NC. Let us secure a fair outcome for you today.

Like any other financial matter in a divorce case, determining alimony can be contentious and emotional. When a couple is unable to make a decision regarding alimony on their own, they will need to turn to the Cabarrus County family court system to make these decisions for them. It can be crucial for either spouse and their financial future to discover how these payments are calculated and fully understand them.

Defining Alimony in Concord, North Carolina

North Carolina has a divorce rate of 2.7 per 1,000 residents. Though this may seem like a relatively small number, many of these cases will involve the issue of alimony. In Concord, there are three main types of alimony that can be awarded and for which your attorney can negotiate on your behalf. These types of alimony include:

• Permanent alimony: In these arrangements, the payment of alimony remains indefinitely until either the death of one or both of the spouses or in the event that the spouse receiving the payments is remarried. When considering a permanent alimony arrangement, the judge will take several factors into account, including the length of the marriage, the earning capacity of each spouse, and the marital standard of living.
• Post-separation alimony: This form of alimony is enacted to provide financial support for only a limited amount of time. This kind of alimony is typically awarded in cases where the divorce is ongoing and the couple is living separately. However, it only happens in cases where one spouse is at a substantial monetary disadvantage when compared to the other spouse.
• Temporary alimony: This form of alimony is intended to provide monetary support for a limited period of time. Typically, this period of time can last until the receiving spouse is able to financially get back on their feet. A judge may consider the same factors that they do in a permanent alimony situation, but the main difference will be that temporary support is not intended to be a long-term solution.

In addition to these forms of alimony, the spouses may be able to reach an agreement outside of the court’s interference regarding lump sum alimony. This form is exactly what it sounds like, occurring when a single, large sum of money is made to the receiving spouse. This type of support is usually only awarded in cases where the paying spouse has the assets and wealth to make this payment all at once.

No matter the circumstances of your divorce, alimony can be a contentious subject. The topic of alimony can quickly undermine an otherwise amicable marriage dissolution. It is important to keep in mind that alimony orders can be modified or terminated under certain conditions. These conditions can include:

• A substantial change in either the paying or receiving spouse’s financial circumstances, such as a job loss, job promotion, or disability
• If the spouse receiving payment remarries
• If the receiving spouse begins to cohabitate with a new partner
• In certain cases, if the spouse paying alimony retires

How the Team at Lancaster and St. Louis Negotiates Alimony Arrangements

At Lancaster and St. Louis, whether you are the party seeking alimony or the party who may be ordered to pay, we are here to negotiate the settlement in your favor. We effectively represent our clients through all alimony negotiations. Allow us to handle the collection of all the necessary forms of documentation, such as tax documents, pay stubs, and income reports, to help prove your side of the alimony case.

Whether you are seeking alimony, need help enforcing standing alimony orders, are hoping to modify or terminate a current alimony order, or ensure you pay only what’s necessary, we are here to help.

FAQs

Q: What Assets May Be Relevant in an Alimony Case?

A: There are several assets that may become relevant during an alimony case. These assets can include stock options, offshore trusts, real estate holdings, bank accounts, deferred tax planning devices, deferred compensation plans, foreign accounts, or brokerage accounts. A skilled Concord family law attorney from our firm can assist you in uncovering these assets.

Q: How Can I Protect My Interests in Seeking Alimony in North Carolina?

A: If you are seeking alimony payments in North Carolina, there are several things you can do to protect your interests. First, it is important that you gather all of your financial records, such as bank statements, tax returns, and expense reports. You will also want to document your contributions to the marriage, such as childcare and financial support, and work with an attorney.

Q: How to Protect My Interests If I Have to Pay Alimony in North Carolina?

A: If you find that you are required to pay alimony, there are several things you can do to protect your own interests. First, it is important to provide the courts with accurate income statements. You will also want to consider negotiations to arrive at an agreement to avoid a court battle, and you will want to ensure that you have a seasoned attorney on your side.

Q: How Is Alimony Calculated in NC?

A: Unlike child support cases in North Carolina, the state does not have a specific formula to calculate alimony payments. Instead, the judge assigned to your case will evaluate you and your spouse’s financial documents and circumstances to determine the amount of alimony to award, the duration of these payments, and the method of payment.

Speak to Our Trusted Alimony Team Today

If you are facing a divorce in Concord, North Carolina, you will likely need to make a decision regarding alimony or spousal support. At Lancaster and St. Louis, we are here to help. Contact our offices today to learn more and to schedule your initial consultation with our team.