Long-Term Marriages and the Dreaded “A”

Posted on December 1, 2014

You’ve heard it before. Power Couple “A” divorce, and the specifics of their settlement are all over the news in painstaking detail. Everyone wants to know, what did she get in alimony and did she get to keep the ring? Recent example—Harold Hamm Holds Onto Most of $16B Fortune in Divorce.

Long term marriages have real long term effects on couples that spent the majority of their lives sharing their incomes, assets, and debts. Unfortunately, the age-old stereotypes associated with alimony are very real and can cost you money in your divorce. The court may grant alimony to either the husband or the wife—alimony is not just for the wives. Florida lawmakers and industry leaders alike are attempting to level the playing field in alimony determinations. Until that occurs, Floridians should know that when a case involves alimony, and there is disagreement as to the amount needed, the battle of the experts will surely ensue. Vocational experts and forensic accountants are the most common types of experts used to provide further analysis in a contentious divorce, and can cost you anywhere from $2000 to $5000 in initial retainers.

The basic provisions regarding alimony in Florida are set forth in Fla. Stat. 61.08. For long-term marriages, which in Florida those are defined as more than 17 years, permanent alimony may be awarded and continue until the spouse receiving alimony remarries, either party dies, or the award can be modified based on a substantial change in circumstances. Speak with a Family Law attorney to learn about the alternatives to alimony before you finalize your divorce case and what you can do to prepare yourself in the event you need to modify the award in the future.