What Is the Difference Between Alimony, Spousal Support, and Child Support?

Although the national divorce rate is dropping, 39% of marriages will still end in divorce. When they do, there are a lot of questions that go unanswered as the difficulty of the decision weighs heavily on both spouses.

Who will remain in the family home? How will you and your spouse devise a time-sharing plan if you have children?

With or without kids, the conversation will quickly turn to your financial well-being. When couples divorce, they typically reside in two different homes. Two households require twice the money to survive. Knowing the difference between your financial support options — and how they are allocated — will go a long way in developing and maintaining financial decisions.