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What’s the Point of 1 Dollar Alimony?
Sometimes the judge will order or spouses will agree to the point of 1 dollar alimony. People often wonder: “What’s the point?”
Read on to learn the reasons behind dollar alimony provisions.
If the court doesn’t award alimony to a spouse at the time of a divorce, it loses jurisdiction to award alimony to that spouse in the future. As a result, spouses’ separation agreements and judges’ decisions often contain nominal alimony awards like $1.
By including $1 of alimony, the court is able to modify alimony if it becomes appropriate down the road. Essentially, $1 alimony allows courts to address alimony at a later point if financial circumstances change.
Courts can award alimony one spouse, neither spouse, or both spouses. When courts award (or parties agree to) alimony for both spouses, we call it “dual alimony.” Therefore, judges often award nominal dollar alimony awards to both spouses. With dual $1 alimony, the court retains maximum flexibility to meet the future financial needs of the spouses.
The Comprehensive Connecticut Alimony Guide
Alimony is one of the most important issues in divorces. And, it’s one of the most confusing. There are no set formulas or rules on (1) whether there will be alimony, and, if so, (2) how it’s calculated or (3) how long it will last. The good news is that this means there is tremendous flexibility to craft an individualized approach. In order to prepare to make solid and informed decisions, you need to understand how alimony works. Our Comprehensive Connecticut Alimony Guide tells you everything you need to know about alimony in Connecticut.
To start making a plan for your divorce, reach out. Our first step at Freed Marcroft, the Goals & Planning Conference, is designed to get to the heart of your problem and unveil your true goals. We analyze those goals, plus the facts of your case, and present you with recommendations and options to move forward.