This is a generic Affidavit to accompany a Motion to amend or strike alimony provisions of a divorce decree because of the obligor spouse's changed financial condition. This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Spousal Support For In Massachusetts
Category:
State:
Multi-State
Control #:
US-00004BG-I
Format:
Word;
PDF;
Rich Text
Instant download
Description
Free preview
Form popularity
FAQ
Alimony is meant to address the income needs of a spouse who might not have the same earning potential as their ex-partner, even after the assets have been divided, no matter how big the value of the assets is.
In a divorce in Massachusetts, a wife is entitled to: Equitable Division of Property: This includes real estate, bank accounts, investments, and other assets. The division is based not on an equal split, but on what is fair and reasonable given the circumstances.
Generally, a request for alimony cannot be raised for the first time after a divorce is final. There are two exceptions to this rule. First, the court may not have awarded traditional alimony in the final judgment, but it may have awarded nominal alimony.
California determines alimony based on the recipient's “marital standard of living,” which aims to allow the spouse to continue living in a similar manner as during the marriage.
The person asking for alimony must show the court that he or she needs financial support, and that the other spouse has the ability to provide financial support.
Except for reimbursement alimony or unusual circumstances, the amount of alimony should generally be no more than the receiving spouse needs or 30–35 percent of the difference between the parties' gross incomes when the order is issued.
Massachusetts laws ...the amount of alimony should generally not exceed the recipient's need or 30 to 35% of the difference between the parties' gross incomes established at the time of the order being issued.
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.
To qualify for alimony support, the receiving spouse must prove financial hardship and make a case for monetary assistance, whether temporary or long-term.
40% of the high earner's net monthly income minus 50% of the low earner's net monthly income. For instance, if Spouse A earns $5,000 per month and Spouse B earns $2,500 per month, temporary spousal support might be calculated as follows: 40% of $5,000 = $2,000. 50% of $2,500 = $1,250.