Maintenance/Alimony, Divorce Lawyer Buffalo NY
When a divorce is filed in New York, sometimes one party has to pay the other party temporary maintenance while the case is pending and/or post-divorce maintenance payments for a period of time. Usually this occurs when one party is seeking maintence from the other party and they can not come to an agreement. Usually maintenance is sought because there is a substantial disparity in incomes, or when one party stayed home to care for children and lost out on career opportunities, or when one party is disabled and unable to work. The amount and length of time that maintenance payments are made is calculated based on a formula. The formula caps income for each party at $178,000.00, however, the court can award maintenance above ot below the formula based on a number of factors.
How Much Maintenance Should Be Paid in a NY Divorce?
Maintenance is paid based on the incomes of the parties and the maintenance formula. The formula is the same for both temporary and post-divorce maintenance. The party that earns the most income is the payor spouse, and the other party is the payee spouse. The amount of maintenance can be calculated with the my MAINTENANCE CALCULATOR.
If Awarded, How Long Should Maintenance Last?
The length of time that maintenance is payable can be between 15% and 50% of the length of the marriage. The length of time for maintenance payable can be calculated with the my MAINTENANCE CALCULATOR
What are the Tax implications of Maintenance?
Maintenance is taxable income to the party receiving it, and tax deductable to the party that pays it.
How Common is an Award of Maintenance?
Maintenance is common when one party needs some time to gain financial independence. It is less common when each party is capable of self-support, or neither party makes enough money to reasonably make the payment.
If you want a divorce and are searching for an experienced Divorce Attorney, near Buffalo, New York, look no further.
Please call (716)-656-7676 or CONTACT US for your free consultation. The first consultation is always free, and you will always speak directly to Stephen K. Underwood.
Stephen K. Underwood, Divorce Attorney
1395 Union Road West Seneca, NY 14224Phone: 716-656-7676 URL of Map