Alimony, sometimes called Spousal Support, is a court order requiring one spouse to provide financial support to their current or former spouse and can be structured in a variety of ways.

 

In determining whether the granting of an order for payment of support and maintenance to a party is appropriate, and in determining the nature, amount, length of term, and manner of payment, the court shall consider all relevant factors, including:

• The relative earning capacity, obligations, needs, and financial resources of each party, including income from pension, profit sharing or retirement plans and all other sources;

• The relative education and training of each party, the ability and opportunity of each party to secure such education and training, and the necessity of a party to secure further education and training to improve such party's earnings capacity to a reasonable level;

• The duration of the marriage;

• The age and mental condition of each party;

• The physical condition of each party, including, but not limited to, physical disability or incapacity due to a chronic debilitating disease;

• The extent to which it would be undesirable for a party to seek employment outside the home, because such party will be custodian of a minor child of the marriage;

• The separate assets of each party, both real and personal, tangible and intangible;

• The provisions made with regard to the marital property;

• The standard of living of the parties established during the marriage;

• The extent to which each party has made such tangible and intangible contributions to the marriage as monetary and homemaker contributions, and tangible and intangible contributions by a party to the education, training or increased earning power of the other party;

• The relative fault of the parties, in cases where the court, in its discretion, deems it appropriate to do so; and

• Such other factors, including the tax consequences to each party, as are necessary to consider the equities between the parties.

 

There are four different types of alimony as follows:

1. Rehabilitative alimony,

2. Alimony in futuro, also known as periodic alimony,

3. Transitional alimony, or

4. Alimony in solido, also known as lump sum alimony or a combination of these.

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Click the above links for more information about the various types of alimony.

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Special Considerations

1. Where retirement or pension benefits or of balances in an individual retirement account, §§ 401(k), 403(b), 457, or any other tax qualified account has been divided by the court, such accounts shall not be considered income for the purpose of determining a spouse or ex-spouse's right to receive alimony, but the income generated by the investment of such lump sum awards shall be considered income for such purpose.

2. The court may direct a party to pay the health insurance premiums for insurance insuring the health care costs of the other party.

3. To secure the obligation of one party to pay alimony, the court may direct a party to designate the other party as the beneficiary of, and to pay the premiums, for life insurance designating the other party the beneficiary of the insurance.

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For more information concerning alimony in Tennessee, contact us and schedule a consultation. We are here to help navigate you through the Tennessee alimony laws.