In this episode of The Advisor Podcast powered by JGS, CPA, we welcome attorney A.J. Iuele of the firm Stenger, Diamond and Glass, LLP. A.J. speaks about the facts and myths of spousal support. Spousal Support also known as spousal maintenance (and formerly called alimony) is money paid from one spouse to the other once a marriage has ended. While the words are different, the meaning is the same. A.J. reminds us if you are currently going through a divorce, you should be familiar with how maintenance will affect your specific situation. Divorce rates typically rise just after the holiday season. Add a COVID catalyst to the mix and the first quarter of 2021 has the potential to see a dramatic spike in divorce filings. We discuss the components spousal maintenance and what you should be aware of if you are going through this unfortunate situation.
If you are facing a divorce, it doesn’t matter what your financial situation is—you undoubtedly have financial concerns. We discuss that before you begin down that path, you should speak with a divorce attorney to find out if such a drastic and final change is the right thing for you. A.J. reminds us that legal counsel can help you to explore other options that may be available to you, such as a legal separation.
We find out in this episode that there are many factors that need to be accounted for before making such a life-changing decision. If you have any questions or would like to speak to schedule a consultation, please contact AJ Iuele at 845-298-2000 or email him ajiuele@sdglaw.com
A.J. also wrote blog post about this topic. You can check it out here: https://sdglaw.com/the-facts-and-myths-of-spousal-support/
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