Add Formulas and Calculations Legal Virginia Alimony Forms For Free

In general, attorneys and courts work on the basis of a guideline equation when deciding how alimony is calculated. This is essentially 30% of the paying party's gross annual income minus 20% of the payee party's gross annual income.

The split in a Virginia divorce does not have to be 50/50. Instead, the court will decide what is a fair division of property. If you and your spouse are able to agree on what would be fair, the court will most likely approve your settlement agreement or separation agreement and add it to your final decree of divorce.

The formula stated in § 16.1-278. is: (a) 30% of the gross income of the payor less 50% of the gross income of the payee in cases with no minor children and (b) 28% of the gross income of the payor less 58% of the gross income of the payee in cases where the parties have minor children in common.

The formula is simple: Divide the Wife's annual amount by the interest rate: $100,000 divided by . 10 = $1 million. The formula is known as the present value of a perpetuity because it continues in perpetuity.

Estimate Alimony Payments. Common methods for calculating spousal support typically take up to 40% of the paying spouse's net income, which is calculated after child support. 50% of the recipient spouse's net income is then subtracted from the total if they are working.

The guideline states that the paying spouse's support be presumptively 40% of his or her net monthly income, reduced by one-half of the receiving spouse's net monthly income. If child support is an issue, spousal support is calculated after child support is calculated.

However, adultery is not necessarily a complete bar to the adulterous spouse receiving spousal support in Virginia. Rather, the court may still award the adulterous spouse support in some cases, based on (1) the relative finances of the parties and (2) the relative degrees of “fault” of the parties.

Spousal support issues arise in Virginia divorces where the parties have been married for a substantial length of time and there is a significant gap in their incomes. In these cases, determination of a proper amount and duration of spousal support (called “alimony” in other states) can become very difficult.

For instance, alimony typically is set to last 15% to 30% of the length of a marriage up to 15 years, 30% to 40% of the length of a marriage lasting 15 to 20 years, and 35% to 50% of the length of a marriage lasting over 20 years. The calculated limit is the maximum alimony the recipient can receive.