Divorce Mediation and why the numbers make sense
May 05, 2022
Hey there friend! As I grow in my life I keep learning. One thing I realized that I never did before is (drumroll please) I love numbers! I don't know why budgets and money scared me. I am so thankful that I have changed my thought to, “numbers and money can be fun-and they always make sense”. This thought has grown me to hold positive feelings about finances.
Have you listened to my podcast: Doing Divorce Different?
On Doing Divorce Different this week I have MN and WI Attorney Michelle Kniess on to discuss the ins and outs of spousal support. My desire is to make topics like this less scary to all of you.
Michelle shares her knowledge of Spousal Maintenance/ Alimony in Minnesota and Wisconsin. Whether you are working together with your spouse through the divorce mediation process (or needing an attorney to advise) Spousal Maintenance is an important issue in many divorces. Michelle says when clients come to her to learn about spousal maintenance they need to review and decide the amount, the duration and whether or not it is modifiable. Each Spousal Maintenance situation is very unique. There are many factors in determining spousal maintenance. Some of them are: the length of the marriage, the earning capacity, and the standard of living during the marriage. Courts always want the person receiving maintenance to help themselves to the extent they can when support is an issue.
Michelle stated it beautifully when she talked about what your plan was during your marriage. Was one party planning to stay home more with the children while the other built their career. Your plan plays a role in determining Spousal Maintenance.
The bottom line, it is based on the need of one party and the resources of the paying party. When I work through mediations with clients we begin with each parties budget and what they think their future budget will be. Then we look at what each parties net income is. Once we have this we have a better understanding of what one party needs and what the other can afford.
If you need Divorce Support, or know someone who does, please contact me. I am here and I want to help.
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