This is an agreement in which Spouse A (the spouse who is ordered by the court to make alimony and/or child support payments to Spouse B) must put assets (the principal) in a trust, from which the payments are made to Spouse B.
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.
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Spouses that wish to enter into a structured divorce settlement may choose to include alimony or waive it ? subject to final approval by the court.
Transitional alimony. Support paid regularly or one time after a marriage of no more than 5 years to help the spouse receiving the alimony to settle into a new lifestyle or location as a result of the divorce.
"Once issued, general term alimony orders shall terminate upon the payor attaining the full retirement age." The statute further notes that the individual's ability to work past retirement age is not generally a reason to extend alimony.
Marriages of 20 Years or Fewer - Alimony payments cannot exceed 80% of the total length of the marriage. If the marriage was 20 years long, the alimony payments could not exceed 16 years. Marriages of More Than 20 Years - The judge can award alimony for as long as they think it's justified.
It also allows the dependent spouse to maintain the lifestyle he or she had during the marriage. The court must first consider the need of the dependent spouse for alimony, and the other spouse's ability to pay. In other words, alimony is not always guaranteed.
Massachusetts laws Length of marriageLength of general term alimony5 up to 10 yearsNo more than 60% of the number of months of the marriage10 up to 15 yearsNo more than 70% of the number of months of the marriage15 up to 20 yearsNo more than 80% of the number of months of the marriage20 or more yearsIndefinite1 more row
