Financial Consequences of Short-Term Marriage and Divorce

divorcemoneyIn most states, a short-term marriage is a length of approximately 1 to 5 years. If either spouse seeks a divorce after a short-term marriage, it is important to be aware of the financial agreements that do or do not apply to both parties involved.

Alimony, also called spousal support/maintenance, is financial support from one spouse to another based upon the financial situation of the supported spouse at the time of the divorce proceedings. Alimony awarded in a divorce decree can be temporary, assigned for a specific time length, or permanent.

In short-term marriages, the court rarely awards alimony, especially if the spouse that is requesting the divorce is employed or employable. Those involved in a short-term marriage might find themselves better off without a prenuptial agreement. Alimony is generally only granted in short-term marriages if agreed upon by the parties through a prenuptial agreement or some other financial agreement that states a right to maintenance after a divorce. In short-term marriages, each spouse will generally yield a relatively small award of maintenance, if it is given at all.

There is also a question of equitable distribution of marital property. People in short-term marriages usually have less time to acquire a significant amount of property. Marital property is defined as all property acquired by either spouse during the course of a marriage, even if the property is not listed in both names. Some exceptions include a property acquired by gift or inheritance, property acquired before the marriage, property acquired after a judgment of legal separation, or property excluded by an agreement between both parties.

In both long-term and short-term marriages, equitable distribution involves determining what is fair and just for both parties. In a short-term marriage, however, since less property is usually acquired in the short amount of time, the court will consider property value differences in evaluating division of property. This can include property ranging from personal items to real estate.

To determine how much property you and your spouse will be entitled to after ending a short-term marriage, it is important to speak to a Phoenix divorce lawyer about your legal options. Contact an experienced family law attorney at The Sampair Group today for a free consultation.

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