Sometimes when a couple is married, one spouse earns significantly more than the other. Some couples even decide to have one spouse stay out of the workforce entirely to care for the family. While these arrangements may work when a couple is married, should the couple divorce the lesser-earning spouse may be at a significant financial disadvantage. For this reason, courts may order the higher-earning spouse to pay alimony -- also known as spousal support -- to the lesser-earning spouse.
Marriage is one of the most important institutions in modern society. Not only does a spouse provide you with emotional support, but he or she may also make acquiring wealth easier. When spouses divorce, though, finances often become highly contentious. If you are thinking about leaving your spouse, you must work diligently to protect yourself from financial pitfalls.
Many married couples in Plymouth spend years saving for retirement. They may have 401(k)s, IRAs, pensions, and other investments that they have set aside to allow them to live comfortably once they stop working. However, not every marriage is meant to last. Sometimes couples -- even those who have been married for decades -- decide to divorce.