How to Make the Most of Temporary Alimony

In cases of divorce where one of the spouses makes significantly more than the other, the court may elect to order alimony on a temporary or permanent basis. While ongoing payments are becoming a thing of the past and generally reserved for couples who are leaving long-term marriages, your situation may entitle you to receive a certain amount for a set period after your divorce while you get back on your feet. Our attorneys can advise you on your options; however, if you do get a temporary alimony award, the following are ways you can make the most of it for whatever time and amount the court allows.

How Temporary Alimony Can Help You Get Back on Your Feet

Under Section 61.08 of the Florida Statutes, temporary alimony may be ordered in cases where one of the spouses has greater income, property, or resources, or in situations where a spouse sacrifices their own career or education for the sake of the family or the marriage. Though generally awarded in marriages of a moderate duration, it can also be ordered in shorter term marriages, when the circumstances warrant it. The following offer ways you can make the most of these payments:

1. Learn new skills: The judge may order rehabilitative alimony specifically for the purpose of helping you get a formal education or to provide for expenses while you re-establish yourself in your career. At the same time, there is nothing to stop you from using your temporary alimony to learn new skills. Attending classes, lectures, or doing online courses, regardless of whether you earn academic credit, can all help increase your value in the workplace.
2. Start a business: Many people capitalize on their ideas, talents, or knowledge by starting their own business, and Inc.com can help you formulate a business plan in as little as a few hours. However, it does generally take some time and even an investment before you actually start making money. Consider your temporary alimony as ‘seed money’ and use it to become your own boss.
3. Pay off debt: Depending on your past spending habits and any agreements made through property division proceedings, you could find yourself carrying debt and dealing with high-interest payments. Rather than living solely on your temporary alimony payments, limit your spending and consider supplemental income, using any extra funds for paying off debts.
4. Save or invest for the future: Odds are, if you receive temporary alimony you likely need it to meet your monthly costs and living expenses. Again, cutting your costs and finding other sources of income can give you the freedom to begin working on your savings. If you already have some money in an interest bearing account, consider putting extra towards retirement or investments.

Contact Us Today for Help

Alimony can act as a safety net to help you get readjusted to living on less income after a divorce. To discuss whether you may be entitled to temporary or other types of payments from your spouse, contact attorney Vanessa L. Prieto and request a consultation today.

Resource:

inc.com/jeff-haden/how-to-start-a-small-business-in-a-few-hours.html