New Jersey Divorce Lawyer Handling Alimony
Alimony, also known as Spousal Support, is used to provide a way for the lower income spouse to maintain their lifestyle, and sustain their financial stability following a divorce. While the approach generally remains the same, there are no set guidelines on Alimony in New Jersey. Every situation is different and completely dependent on the unique factors of your case.
As of September 2014, the New Jersey Alimony Reform Statute was significantly modified to include duration limits on the amount of time alimony is paid, essentially eliminating the notion of permanent alimony. It also establishes guidelines for the amounts and duration of alimony awards in New Jersey.
When a request for alimony is made in New Jersey, there are several factors the courts will consider in their judgement. Some of these factors include but are not limited to:
- How much each spouse currently earns, as well as their prospective future earnings.
- The length of the marriage, or civil union.
- The standard of living the parties have grown accustomed to during the marriage.
- Each spouse’s corresponding assets and liabilities.
- The ages of the parties, and their general physical and emotional health.
- The number of children, and amount of child care obligations.
- The sacrifices made during the marriage. (i.e. foregoing opportunities in their career to stay home and take care of the children.)
- The length of time a spouse has been removed from the workforce.
- Any other factors that the courts deem admissible.
The type of alimony paid greatly depends on the type of financial need that the lower income spouse has. There are four primary types of Alimony in New Jersey. These include rehabilitation alimony, limited duration alimony, open duration alimony, and reimbursement alimony.
Open Durational Alimony – means that there is no set end date to the alimony. This doesn’t mean that alimony payments will never end, just that there is no set end date established at this time.
Limited Duration Alimony – means that there is a clear economic need for alimony, however the duration of the marriage was too short to permit open duration alimony. Oftentimes, the length of the alimony is tied to a specific event, such as when the supporting spouse will finish schooling, or when the spouse’s youngest child will enter school full-time, thereby allowing the supporting spouse the ability to return to the workforce and increase their earning abilities.
Rehabilitative Alimony – is a form of alimony that is paid following a plan of rehabilitation submitted by the requesting spouse. Oftentimes, it is used by the least economically independent spouse to help them advance their educational background, or career training. This makes it easier for the them to transition into the workforce and make a living post-divorce.
Reimbursement Alimony – can be decided by a variety of circumstances. Oftentimes, it is awarded to one party to reimburse them for the sacrifices they’ve made throughout the marriage regarding supporting their spouse through the pursuit of higher education, or career advancement.
Spousal support payments are also tax-deductible for the payer, and must be reported as taxable income by the payee. This is important to know, and our dedicated New Jersey divorce lawyer can help you take full advantage of your deductions.
Are you struggling with an alimony dispute, or just looking to learn more about alimony in New Jersey? Our dedicated New Jersey Divorce Lawyer focuses strictly on family law matters, and have the skills and experience required to assist you with even the most complex of alimony cases. Regardless of whether you are pursuing alimony, or defending against it, our dedicated New Jersey Divorce Lawyer will be your fierce advocates throughout the entire process.
We know how difficult and confusing divorce and family law matters can be. To help alleviate some of your concerns, our law firm offers free consultations to help get a better idea of your unique situation, and provide the guidance and direction you need in these troubling times. New Jersey Divorce Lawyer Salvatore A. Simeone is also certified by the Supreme Court of New Jersey as a Matrimonial Lawyer, a distinction held by less than 5% of attorneys in the state. Contact us today and let our experience work for you.