Divorce can leave you unsure how much alimony you may pay or receive. You may worry whether these payments will leave enough money to cover your expenses. Florida law limits durational alimony, a type of support paid for a set period. The final amount depends on more than income.
Under Florida law, this type of support cannot exceed 35% of the gap between spouses’ net incomes. The court must also consider the receiving spouse’s reasonable financial need. The lower amount sets the limit.
How does the 35% alimony cap work?
Start with each spouse’s monthly income after allowed deductions. Use this formula:
Maximum Monthly Alimony = 0.35 x (Payor’s Net Monthly Income – Recipient’s Net Monthly Income)
Suppose your net income is $15,000 per month and your spouse’s is $5,000. The $10,000 gap gives you a monthly cap of $3,500.
That does not mean the court will award $3,500. If your spouse shows a reasonable need for only $2,500 a month, that lower amount becomes the limit. The court also considers your ability to pay.
What counts as net income in Florida?
Net income differs from gross salary. The state calculates net income by subtracting certain costs from your gross pay. These include taxes, required retirement payments, union dues and eligible health insurance costs.
The rules also account for certain court-ordered support payments. However, everyday costs like rent and groceries do not count as allowed deductions. Incorrect deductions can change the income gap and lead to the wrong alimony amount.
Why do complex finances require closer examination?
High earners may receive more than a regular paycheck. Bonuses, stock options and money paid out from a business can make your monthly income harder to calculate. Courts may also consider imputed income, meaning potential earnings based on a spouse’s work history and qualifications, when unemployment or underemployment is voluntary.
Your financial affidavit is a sworn disclosure of income, expenses, assets and debts. Accurate disclosures, supported by tax returns, compensation agreements and business records, can help prevent overstated or understated income figures.
Forensic accountants examine records to trace income and help resolve disputes over alimony calculations.
How can Weiner & Weiss help with alimony negotiations?
The 35% rule sets a limit, but dependable income figures help you evaluate proposed payments and negotiate from a clearer financial position.
At Weiner & Weiss, LLC, Gary Weiner brings more than 40 years of experience and Scott Weiss brings more than 20. They work with forensic accountants to review complex income and negotiate alimony disputes. Clients can also reach the partners directly by cell phone seven days a week.