What is an Alimony and Maintenance Trust?

Are you considering divorce? If so, you may also be thinking about asking for alimony.

Although the rules regarding alimony payments generally vary by state, most judges review an alimony case based on the length of the marriage and the finances of both parties. If the judge agrees that one party, usually the wife, is entitled to alimony, the judge may then set up an Alimony and Maintenance Trust.

The payor will be asked to deposit a certain amount of money into the trust; the payee will then receive monthly payments for a period of time agreed upon between the spouses and the judge. While some states allow the spouse to pay the other spouse directly, a trust can actually protect both parties. It places a neutral third party in charge of allocating funds and creates a record of financial transactions. It also ensures that the payee will have access to the funds in the future, in case the payor becomes financially unable to make payments in the future.

Should you need assistance with a spousal support matter in California, turn to the help of a Riverside family law attorney from our firm. To speak with our lawyers, contact the Law Office of Michael Young now.