Divorce is a stressful process, but for many couples, it is the best option when they grow apart or realize their life goals have diverged. For spouses who have grown accustomed to the financial stability of their marriage, though, separation can be a daunting prospect. How will you maintain your standard of living and adjust to the financial demands of supporting yourself? These are questions many divorcees ask.
The truth is that divorce is expensive, and adjusting to the expenses of singlehood is, too. If you are in a situation where you may need financial assistance in order to remain financially stable after a divorce, alimony may be an option. The following are three expenses it may cover.
1. Job training
Spouses who need alimony to maintain their standard of living are sometimes eligible for spousal support that will fund special job training programs. It is not uncommon for one spouse to put a career on pause to raise a family or support the other spouse's career. This might put you at a professional disadvantage upon re-entering the workforce if you were a stay-at-home spouse, but alimony-funded work training may mitigate this problem.
If you are looking to re-enter the workforce or start a new career after you spent time away due to your marriage, pursuing further education is another option you may consider. Some divorcees opt to spend alimony funds on pursuing a college degree. Much like specialized job training programs, this can help you establish a career after a divorce.
3. Standard of living
In some cases, spousal support is necessary simply to maintain the standard of living you had during your marriage. If your spouse supported you and you will be unable to support yourself after a divorce, pursuing alimony might be the best option. According to Forbes, alimony paid for this reason necessitates a lifestyle analysis.