Palimony is a financial settlement for unmarried partners who have mixed assets, incomes, and financial responsibilities. Length of the relationship, oral or written agreements, and income sacrifices can determine the prize. Same-sex and unmarried couples can file for palimony.
Palimony is a form of financial settlement similar to alimony, but for partners who haven’t married. Living together for an extended period of time can qualify partners for the prize if assets, incomes, and financial responsibilities have mixed. Same-sex couples and heterosexual couples who choose not to marry may be able to file for palimony if they feel their assets and liabilities have been unfairly divided as a result of a relationship breakup. The factors determining alimony are similar, and often identical, to those determining alimony in a divorce.
An important factor that helps determine palimony is the length of the relationship. This factor usually includes only the time spent living together, leaving out any period during which a couple was dating but not living together. Typically, going to court over an affair that lasts only a few months is neither necessary nor desirable. Long-standing relationships where partners create a family together, in contrast, offer plenty of opportunities for financial arrangements, support systems, and finance mixing.
The existence of oral or written agreements about financial settlements can be important in determining the prize. Some couples who intend to be together permanently but aren’t getting married can make things easier by creating a palimony agreement that works similar to a prenuptial agreement by setting out the terms of the financial division in the event of a subsequent split. These agreements can be notarized or drafted by a lawyer to ensure they are binding in court, should a partner later change their mind. Oral agreements are difficult to prove, but can sometimes be used in court if both parties admit that the agreement existed.
Couples who live together, whether married or single, often make career and income sacrifices to help each other’s personal goals. If one partner agrees to stay home with the kids so the other can work full-time, or if one goes to school while the other works to support the family, the sacrificing partner may have reason to claim the prize. Just as in a divorce, if one partner can demonstrate that they have passed up significant income or career development opportunities for the other partner, a judge can rule that she deserves financial support. This may include a monthly income, repayment of specific debts, or even a portion of a former partner’s earnings, stock, or profits from the business.
If two partners have very different incomes, but have mixed finances to create an even living arrangement, this may be considered in a palimony judgment. How this factor affects court decisions can vary by couple; in some cases it may mean that the higher income partner must maintain the standard of living stipulated in the relationship, while in others it may mean that the higher income partner gets to retain more of the assets and assets since he or she has mainly funded the report. Other factors, such as those mentioned above, can determine how income inequality is handled in palimony cases.
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