New York Alimony Calculator
Output Results:
Description
Our Alimony Calculator estimates the spousal support based on New York state guidelines. It evaluates financial circumstances and calculates potential alimony payments. It is a helpful tool for spouses going through divorce.
How To Use
You will need accurate financial details from both spouses, including annual income, the total value of assets, and any existing liabilities.
Input Financial Data
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Payer’s Annual Income: the gross annual income of the spouse who earns more. That spouse is a payer. The other spouse is a receiver.
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Receiver’s Annual Income: the gross annual income of the other spouse.
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Duration of Marriage: the total number of years the marriage lasted.
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Cap on Income: New York has an income cap for alimony.
Calculate Estimates
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The calculator estimates the alimony amount using two methods. It displays the lower of the two calculations as the suggested payment.
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Calculation Method 1: 20% of the payer’s income minus 25% of the receiver’s income.
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Calculation Method 2: 40% of the combined income of both spouses minus the receiver’s income.
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Spousal support Payable: The lower two calculated amounts are potential spousal support amounts.
Review Duration of Support
The calculator also estimates the duration of the support, which varies depending on the length of the marriage.
Example Calculation
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Payer’s Annual Income: $120,000
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Receiver’s Annual Income: $50,000
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Duration of Marriage: 12 years
Calculation Formulas
The calculator would perform the following:
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Calculation Method 1: $17,500
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Calculation Method 2: $18,000
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Spousal support Payable: $17,500
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Duration of Support: Approximately 3.6 years
Understanding the Outputs
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Alimony Amount: is an estimate of the monthly alimony amount. The actual amount the court orders may differ. A judge assesses other contributing factors and may adjust the amount accordingly.
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Duration of Payments: is based on the marriage length.
Summary
Our Alimony Calculator is an essential tool for estimating and understanding the potential financial outcomes of the divorce in New York. It provides a foundational estimate for planning and negotiations. It is crucial to consult a legal professional to interpret these results accurately and account for any additional factors that may influence the final alimony agreement.