After the Court addresses division of
marital property, it next considers the issue of alimony. If the equitable
division of marital assets adequately provide for each party, then no alimony
should be awarded. If one party is left with a deficit after the marital
property is equitably divided, alimony is considered. Under Mississippi law
there are three types of alimony:
1. periodic;
2. lump sum; and
3. rehabilitative alimony.
Periodic Alimony - is to provide the
receiving spouse with an income stream for an indefinite period of time.
Periodic alimony terminates upon the re-marriage of the receiving spouse or upon
the death of the paying spouse. Periodic alimony may be modified or terminated.
Modification may be made only upon an order of the Court and not by the parties
alone.
Lump Sum Alimony - differs in that it
is not subject to modification, unless one of the parties has committed fraud.
Lump sum alimony vest in the receiving spouse and becomes an obligation of the
estate of the paying spouse in the event death occurs before payment is
completed. Lump sum alimony is intended as an equalizer between the parties to
serve equity amongst them completely, once and for all. Lump sum alimony may be
payable in a single lump sum or through fixed periodic installments.
Rehabilitative Alimony - allows one
party to receive support from the other for a fixed, definite duration and for
the purpose of allowing the party needing assistance to become self supporting
without becoming destitute.
On considering whether to award
alimony, the Court evaluates the following twelve factors:
1. the income and the expenses of the
parties;
2. the health and earning capacities of the parties;
3. the needs of each party;
4. the obligations and assets of each party;
5. the length of the marriage;
6. the presence or absence of minor children in the home, which may require that
one or both of the parties either pay, or personally provide, child care;
7. the age of the parties;
8. the standard of living of the parties, both during the marriage and at the
time of the support determination;
9. the tax consequences of spousal support order;
10. fault or misconduct;
11. wasteful dissipation of assets by either party; or
12. any other factor deemed by the Court to be just and equitable in connection
with the setting of spousal support.
9032 Stone Walk Pl. Germantown, TN. 38138 (901)759-3489