8 DIFFERENT TYPES OF ALIMONY (SPOUSAL SUPPORT) AGREEMENTS - CALIF.- VIDEO #37 (2021)

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Seventh video in seven part series explaining alimony (spousal support) laws in California. This video discusses 8 different types of alimony agreements you may want to consider for your divorce settlement agreement.

Permanent Waiver. Sometimes, both parties earn about the same amount of money and no spousal support is owed by either party to the other. Sometimes, even though one party may be entitled to spousal support, they don’t want it. Perhaps the party entitled to spousal support intends to remarry right away so there is no real spousal support issue. In these situations, both parties can agree to permanently waive their rights to receive spousal support.

If you both agree that neither one of you wants spousal support, it is very important that the language you use in your settlement agreement makes it absolutely clear that both parties are completely waiving their rights to receive spousal support. Simply saying that no spousal support shall be payable by either party to the other is not sufficient.

A permanent waiver of spousal support means you can never ask for an award of spousal support no matter what. A “reservation of jurisdiction” means you do not need spousal support at this time, but you want the court to reserve jurisdiction to make an award of spousal support at some time in the future upon a showing of changed financial circumstances.

Another type of spousal support agreement is where one party pays spousal support for a fixed period of time.

Another type of spousal support agreement is where support is paid for an indefinite period of time or "until further order of the court".

Another type of spousal support agreement is where the amount of support decreases over time until it reaches zero.

There is a big difference between reducing support to zero and terminating the court’s jurisdiction to award spousal support. If the agreement simply says support is reduced to zero, that leaves the door open for the recipient to ask the court to extend the duration of support.

Another type of spousal support agreement is where the spousal support is non-modifiable as to amount.

Another type of spousal support agreement is where the spousal support is non-modifiable as to duration.

Another type of spousal support agreement is where the spousal support is non-modifiable as to both amount and duration.

A spousal support order that is non-modifiable as to amount and duration can be very dangerous because financial circumstances can change. If either party loses their job or becomes disabled due to accident or illness, the amount and duration of support remains the same.

Some parties dispose of the spousal support issue by means of a buyout. A lump sum of money is paid in exchange for the other party’s agreement to permanently waive any and all rights to receive spousal support.

How do you determine a fair buyout price? What would be the total amount of spousal support paid if it were paid in monthly installments for half the length of the marriage? Take that total and start discounting it for various reasons, such as the possibility that the recipient may re-marry; the possibility that recipient may co-habit and thus have a decreased need for support; the possibility that the recipient may die; the possibility that payor may die; the possibility that the recipient may start earning more money so less support would be owed; etc.

Видео 8 DIFFERENT TYPES OF ALIMONY (SPOUSAL SUPPORT) AGREEMENTS - CALIF.- VIDEO #37 (2021) канала Free Divorce