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Ellen
Ellen, Lawyer
Category: Family Law
Satisfied Customers: 36714
Experience:  25 years of experience helping people like you.
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I am married for 25 years in NYS. with an income of 750k per

Resolved Question:

I am married for 25 years in NYS. with an income of 750k per year, within a range, how much in maintenance can i expect to have to pay my wife after separation and for how long. We have 3 children, one out of the house, one in college and a junior in high school. Assume that I will support the children so I am only interested in her maintenance. She is 57 years old and has the ability to work but has not worked for 22 years and I would say that her earning power is limited. I am 54 and plan on working another 11 years. She will get a property settlement as well that will give her over a million dollars in liquid assets between now and the time that I retire

thanks
Submitted: 7 years ago.
Category: Family Law
Expert:  Ellen replied 7 years ago.
Hello,

Whether spousal support is awarded in a divorce is dependent upon the parties circumstances in reference to the standard of living established during their marriage and their respective needs and abilities to pay.

The longer the marriage and the more disparate the earning capacities, the higher the alimony will be. Therefore in your situation it appears likely that you would be required to pay spousal support.

As a rule of thumb, spousal support will be awarded in a long term marriage in an amount that will equalize the income and the terms of the support will be equal to half the term of the marriage.

Therefore, expect to pay spousal maintenance of about one-half of your earnings after child support for approximately 12.5 years.

I hope that the information which I provided was helpful to you. However, if I have not fully answered your question, please post me back on this thread with a clarification.


Best wishes for a successful outcome. If you have additional questions, please do not hesitate to submit them to me directly.


Thank you,
FLAandNYLAWYER

Customer: replied 7 years ago.
SO AM i CORRECT IN UNDERSTANDING THAT YOU ARE SAYING THERE IS NO CAP - THAT SHE GETS 50% OF MY EARNINGS NO MATTER HOW HIGH THEY ARE? I HAVE SEEN SEVERAL CLIENTS WHO HAVE BEEN SEPARATED AND MAKE SUBSTANTIAL MONEY WHOSE TOTAL MAINTENANCE AND SUPPORT PAYMENTS ARE NOWHERE NEAR 50% OF THEIR EARNINGS?
Expert:  Ellen replied 7 years ago.
Hello,

You have a long term marriage with a spouse that did not work. I think that you need to be prepared to pay half after support. I do not know the others situations that you mention.
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