Calculating Spousal Maintenance In Rochester Divorces
Navigating a divorce with complex financial issues requires careful planning and strategic solutions. At our Rochester law firm, we are experienced divorce attorneys who are committed to helping clients address these challenges with sophisticated strategies. Whether your Minnesota divorce involves high net worth considerations or other intricate financial conflicts, as experienced spousal maintenance lawyers at Frieders & Kuhn, L.L.P., we can advocate for fair spousal maintenance that meets your needs.
Defining Spousal Maintenance In Minnesota
Spousal maintenance, also known as alimony or spousal support, is financial support paid by one spouse to another after a divorce. Spousal maintenance is awarded to help balance income differences between divorcing spouses. Spousal maintenance can help ensure that each spouse is able to maintain a reasonable standard of living after their divorce is finalized. This financial support can be temporary or permanent, depending on the circumstances of the marriage and divorce.
When Is Spousal Maintenance Awarded In A Minnesota Divorce?
In Minnesota, alimony may be awarded when one spouse lacks sufficient property or income to meet their needs. Factors considered include:
- The length of the marriage
- Each spouse’s financial resources
- The standard of living established during the marriage
Courts also have a lot of discretion and can take into account how the divorcing couple’s real estate investments and retirement accounts are divided, in addition to other marital investments.
How Is Spousal Maintenance Calculated?
Calculating spousal maintenance involves evaluating several factors, such as each spouse’s financial resources and earning capacities as well as the time needed for the recipient to become self-supporting. The court will also consider the length of the couple’s marriage. The goal is to determine a fair amount that reflects the financial realities of both parties. We are divorce lawyers skilled in assessing the various relevant factors, and we will advocate on your behalf for a just outcome.
How Long Do Spousal Support Payments Last?
The duration of spousal support payments varies based on individual circumstances. The legislature just passed new guidelines:
- For marriages lasting 5 years or less, the presumption is that no spousal maintenance will be awarded.
- For marriages lasting 5 to 20 years, spousal maintenance is generally awarded for half the length of the marriage. For example, if a couple was married for 12 years, maintenance is presumed to only last for up to 6 years. This is called transitional maintenance.
- For marriages lasting more than 20 years, maintenance is presumed to be awarded indefinitely — meaning it could continue until there’s a significant change in circumstances. This is called indefinite spousal maintenance.
These guidelines provide both parties with clearer expectations about spousal maintenance duration. However, it is crucial to remember that the court can adjust these time frames based on the specifics of the case.
We will be dedicated to protecting your rights and interests. We will advocate for spousal support arrangements that are appropriate for your unique situation.
Consult A Rochester Divorce And Spousal Maintenance Lawyer
If your Minnesota divorce involves complex financial issues and spousal maintenance is likely to be considered in your divorce, we are divorce lawyers who are available to answer your questions. We invite you to schedule an initial consultation by calling us at 507-414-5558. You can also send us a message through our website. We look forward to telling you more about how we can help you with your case.