Liquidity of Income and How This May Affect a Divorce Attorney with Spousal Support

Feb 22 07:56 2012 Will Beaumont Print This Article

Final spousal support depends on a number of factors in Louisiana, one of which is the liquidity of the means of the spouses.  This article offers more information on this point.

In Louisiana,Guest Posting after a marriage is dissolved, one of the spouses may be able to receive what is called "final spousal support." This means that that spouse will be owed money from the other spouse in order to meet their living needs. The determination of spousal support is decided, among other things, upon the dictates of Louisiana Civil Code article 112. This code article explains 8 different factors to guide both a court and divorce attorney. Today's article will deal with: "The income and means the parties, including the liquidity of such means."

Let's use two examples. Let's say first that we have Chuck and Chanel. Chuck and Chanel have been married for twenty years. Chuck works as a painter in New Orleans and he is very skilled. His painting business is one of the most successful in the city, and so he always has business. Chuck is not an extremely enterprising man however, and so he does not maximize the potential of his business, but only works to pay the bills. He spends the remainder of his time watching ESPN. Even though Chuck does not work as hard as he could, he still makes enough money to support both he and Chanel. Chanel does not work. The couple does not have any children. One year before one of the spouses hires a divorce attorney to end the marriage, Chuck learns that he has been given a trust by his deceased grandmother. The trust is worth about twenty million dollars. However, because Chuck's grandmother always thought that he was a little irresponsible, she specifically made the trust so that Chuck could only draw monthly installments from it at the rate of two thousand dollars per month. Chuck has to wait another twenty years (at which time he will turn sixty) to have access to the remainder in the trust. Chuck's grandmother thought that this would be a good way to make sure Chuck had a comfortable retirement.

Now let's say that we have another couple, Steve and Samantha. Let's say they have also been married for twenty years. Similarly to Chuck and Chanel, Steve works and Samantha stays home. Steve works as a tire salesman in Laplace. Let's say that in year ten of the marriage, ten years before decides to retain a divorce attorney, Steve inherits twenty million dollars from his deceased grandmother. Unlike Chuck's grandmother, Steve's grandmother gives it all to him in a lump sum. He and Samantha subsequently spend the money lavishly on themselves, and they also invest it wisely. By the time that one of the spouse's divorce attorney ends the marriage, both Steve and Samantha live a very luxurious lifestyle.

Louisiana Civil Code article 112, and specifically section (1), may have different effects on the approach by a divorce attorney for an award of spousal support in each case (let's assume that both Chanel and Samantha ask for spousal support.) In Chuck's case, he very well may be set for life because of the trust. Two thousand dollars guaranteed every month, with a total of twenty million dollars. But he and Chanel have not enjoyed the money like Steve and Samantha enjoyed Steve's inheritance, because the trust is not as liquid. For this reason, if both Samantha and Chanel ask for spousal support, Samantha may have a better argument for receiving a higher amount of money.

Will Beaumont has a law office in New Orleans, LA. This article is just informational; if you are in need of legal advice, please contact a lawyer in your area.

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Will Beaumont
Will Beaumont

While there are a number of factors that determine final spousal support, courts also make decisions based upon equity. If you are in the area of New Orleans, Will Beaumont can help you understand how spousal support may affect you. He can be contacted at: Beaumont Divorce, 3801 Canal St #207, New Orleans, LA, 70119 (504) 483-8008.

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