Governor Cuomo’s administration is currently reviewing a bill recently passed in the state Senate that would create major changes to New York’s current alimony laws. The current legislation created a formula for calculating temporary maintenance awards, but it applied the same formula to all income levels below $543,000 without considering complicated financial situations and didn’t extend application of the formula to post-divorce maintenance. It also included an enhanced earning capacity calculation based on degree/license earned, even if the spouse was no longer working in that career.
The new bill reserves the formula for application to income up to $175,000 and extends its application to post-divorce awards, while offering suggested guidelines for judges deciding the lengths and amounts of awards. Additionally, it removes the award of a percentage of the enhanced earning capacity calculation based on degree. The bill first passed in the Assembly 146-1, and many matrimonial associations have voiced support for the changes.
*The information contained in this blog is presented as general information and is not to be construed as legal advice to apply to any person or particular situation. Please keep in mind that the law is constantly changing and therefore you should always consult an attorney for legal advice based on the individual circumstances of your situation.