In our last blog post, we began discussing some of the factors a judge takes into consideration when deciding whether or not to award alimony in a divorce. We also provided details about two types of temporary alimony, rehabilitative and transitional, that may be awarded in a divorce case.
In this post, we'll conclude our discussion on alimony and take a look at how Tennessee's courts attempt to provide for the long-term financial security of some divorcees.
For some divorcees, their ability to attain a level of financial security close to or equal to that enjoyed during one's marriage is not possible. This is often especially true in cases where an individual divorces later in life and has not worked for years or is disabled or dealing with a serious medical condition. In these types of divorces, alimony in futuro may be granted to an economically disadvantaged spouse.
In divorces where alimony in futuro is awarded, the terms of the agreement may be modified. However, while the sum of payments may change over time, the duration of monthly payments only terminates upon the death or remarriage of the ex-spouse who is receiving benefits.
Alimony in solido is another form of alimony that serves to provide for the long-term financial needs of an economically disadvantaged spouse. The terms of alimony in solido differ from alimony in futuro in that the sum total of alimony is definite and awarded at the time a divorce settlement is reached.
A court may choose to award a spouse alimony in solido to help financially offset other property or asset divorce decisions or to account for a depreciation in the value of marital property or assets. Additionally, in some cases, alimony in solido may be awarded as a means to cover legal expenses accrued during the divorce process.
Tennessee residents who are planning to file for divorce likely have many questions and concerns including those related to alimony. It's wise, therefore, to consult with a divorce attorney who has experience in helping individuals both obtain and modify alimony.
Source: Tennessee Bar Association, "You’ve Come a Long Way, Alimony," Amy Amundsen and Mary Wagner, June 30, 2012