If you are a stay-at-home parent, the divorce process can be particularly stressful. You likely wonder how you can adequately provide for your family when you are not currently employed.
Protecting your financial well-being for yourself and your children is a top priority. Knowing your legal rights helps you get a fair settlement.
Evaluating your income
During your divorce, the law considers the gross income, net income, assets and earning capacity of you and your spouse. The court identifies your need and concludes if your spouse can pay.
Evaluating income in a high asset divorce can be complex. Understanding how Florida law calculates income is vital to determining your child support and alimony payment amounts. Courts consider every source, including:
- Salaries and wages
- Business profits
- Commissions and bonuses
- Rental property income
- Dividends, interest and royalties
- Annuities and pensions
- Trust disbursements
- Social security benefits
Considering other factors
In addition to you and your partner’s income and assets, the court looks at other contributing determinants, such as:
- The earning capacity of both partners
- The length of your marriage
- The division of child care responsibilities
- The contributions of each person to the marriage
- The standard of living of your family
Determining the type of support
There are many different forms of alimony in Florida, ranging from temporary to permanent. Your unique circumstances determine your level of support. The court will look at your age, physical health, education, assets, previous work experience and your children’s age and care needs.
Florida law recognizes your contributions to the marriage as a stay-at-home parent. You have a right to an equitable division of assets and spousal support following your divorce.
