dlundy said:
What is the name of your state? Ohio. My wife is being told by a friend that she may be able to get lifetime Maintenance. My laywer is telling me it is not likely based on our ages but I'm worried any ways. I am 41 and she is 42 and we were married for 23 years. she makes 23% of the total income. Is it possible that I would have to pay her for life?
Is it possible? Yes. Is it likely? No.
The length of your marriage and the huge difference in your incomes makes it possible. However again, as your attorney said, your ages make it unlikely.
Plus, if an order is worded properly, there should be clauses in the order that would allow for maintenance to stop if she were to remarry or cohabitate. You are both young enough that you are likely to remarry.
There can however be some tax advantages to paying maintenance....even lifetime maintenance and even without putting in clauses regarding remarriage or cohabitation. Alimony/Spousal Support/Maintenance is tax deductable (above the line) to you, and taxable income to her. Money paid out as part of a property settlement is not. Therefore, if you have certain assets that you want to keep...and either do not have the cash to buy her out, or do not want to disturb the asset/investment, then long term or lifetime maintenance...WITHOUT restrictions regarding remarriage or cohabitation can be more financially advantageous to you.
It would have to be structured carefully so as not to violate the tax regs, and it would have to be set at a level that would also make it attractive to her.....but its something to consider.