By Cheryl Lock
NEW YORK (Learnvest)As a person whose parents split up when I was seven, I'm no stranger to divorce lingo. Child support. Full and part-time custody. Alimony. By third grade, I had all of the vocab down.
But lately, alimony as we know it has been called into question.
In its simplest terms, alimony is "a husband's or wife's court-ordered provision for a spouse after separation or divorce."
The intent is to provide the spouse with low income, or no income, funds for living expenses outside of child supportin other words money to support themselves. The amount and duration of the payments depend on the laws of individual states, and are at the discretion of a judge.
But now, it turns out, many states are considering new legislation that would put an end to permanent spousal support.
The New Alimony?
Now, instead of alimony for life, several states are contemplating special formulas that would be used to determine a specified amount and length of alimony payments. Massachusetts reformed their law a year ago. Florida's reform bill was recently vetoed by the governor. New Jersey is contemplating changes, and, just recently, legislation seeking changes was introduced in New York.
If the arguments are not surprising, what is surprising is the increasing number of women who are calling for alimony changes. Sheila Taylor is one of them.