Long-Term Alimony in High-Asset Divorce Cases
When the issue of long-term alimony is at play in a divorce, it is important to work with a lawyer who is skilled at negotiation. The court is limited in terms of what it can offer in alimony. However, the court is obligated to follow alimony agreements reached out of court. At Hale Ball in Northern Virginia, our lawyers have more than 30 years of experience that we use to negotiate creative alimony agreements that will be upheld in court.
Is Long-Term Alimony the Best Option?
The purpose of a divorce is to sever the ties between two spouses. Long-term alimony creates new ties. In many cases, it is not necessary, nor is it the best option.
Our attorneys are skilled at balancing the need for financial support with the issue of property division. The potential payor of alimony may be able to minimize the need to pay alimony by providing the potential payee with certain assets. For example, the marital estate may contain numerous high-performing assets, such as a rental property that spins off a significant amount of monthly income. The inherent value of such an asset is greater than what it would sell for if it had to be sold off and divided as part of a property settlement. It may be more beneficial for the potential payee to receive one or more assets like these, assets with a good rate of return, instead of creating further entanglements with an alimony agreement.
In every complex divorce case, we look closely at the issue of alimony in relation to property division in order to ensure that all outcomes are considered and our client is guided toward the one that ultimately will prove the most beneficial.
Tax Issues in Long-Term Alimony
When long-term alimony is considered, it must be considered in light of tax consequences. There are tax issues that could prove to be shackled. We want to address them, preventing our client from facing unexpected tax liabilities.
Schedule a Consultation with an Experienced Attorney
If you have a question, we encourage you to schedule a confidential consultation with one of our Northern Virginia lawyers. To make an appointment call us at the above telephone number 1-703-591-4900 or use the contact form below.
Since 1980 the AV-rated law firm of Hale Ball has served the legal needs of individuals and businesses. Our team of attorneys include lawyers named to Super Lawyer and Rising Star lists, as well as attorneys with advanced legal degrees, specialty certifications and lawyers who teach their areas of practice to other lawyers.
Use the contact form on this page to schedule a consultation, or call 703-591-4900.
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10511 Judicial Dr
Fairfax, VA 22030