My wife and I are going through an amicable divorce, and we are trying to be as fair to each other as possible. I’m confused as to how alimony is calculated and the duration. She has been out of the job market for 10 years, but wants to rejoin. She has a Master’s degree and a good work history before staying home with our son. My income is variable and highly dependent on commissions. I have 2 questions.
Is there a standard percentage of net income that we should use to calculate alimony?
If we are tying to do this ourselves and want to come to an agreement, is there an average duration for alimony payments? We were married for 16 years. I’d like to be fair to her as well. If we both agreed to a duration, such as 3 years, would that be acceptable in our divorce/agreement?