Alimony in New Jersey: What you Need to Know
-
Upload
brad-micklin -
Category
Business
-
view
43 -
download
0
Transcript of Alimony in New Jersey: What you Need to Know
Alimony is rarely “one size fits all” and is customized for every divorcing
couple. Many factors come into play during a court’s decision as to which
party should pay alimony in a divorce. There are several types of alimony, and
it helps to have a professional advocate at your side when navigating this
process. Attorneys experienced in family law and family financial matters can
handle your alimony proceedings.
The length of a marriage is one factor when determining alimony, as is the
age of both parties. Similarly, the health of both parties, and therefore their
future earning potential, has a say in a court’s decision. Other factors that
may influence alimony proceedings include each spouse’s work history,
education, and more.
Alimony is essentially the idea that when your marriage ends, both spouses
should be able to go on living as they were before the divorce. The person with
the most income will likely have to share that income with their spouse. The
standard of living in a marriage is the description of how you lived as a married
pair, and certainly varies from couple to couple. For some, this involves multiple
homes, cars, and vacations; other couples have less capital to handle in a divorce.
Each spouse's ability to sustain a similar standard of living is a factor
considered during alimony proceedings. This includes their career history and
ability to retain further education, if needed. Also, length of time away from
the job market, if applicable, will be considered in alimony proceedings in
New Jersey.
This form of alimony often arises in the situation where one spouse supports
the other while he or she is working on receiving a degree. In the case of
divorce soon after a degree is received, a court may award reimbursement
alimony to the benefactor of the education costs. As time goes on, however,
the likelihood of reimbursement alimony diminishes. Still, the paying spouse
may be able to receive part of the value of the degree in equitable distribution
of the marital assets.
For spouses who have been out of the workforce, rehabilitative alimony is financial
support that is provided for a short period of time so the recipient can adjust. This
type of alimony will allow the divorced spouse time to "rehabilitate" him or herself
financially. After a divorce is finalized, the judge will award rehabilitative alimony
to be paid until unique criteria are met, such as remarriage and/or gaining
employment. Despite the seemingly cruel label, "rehabilitative" does not imply
personal fault and has been used as a legal term for decades.
Limited duration alimony is paid for a unique period of time; the alimony
terminates upon completion. This form of alimony usually exists when the
marriage was not long enough to justify long-term alimony. Amount of limited
duration alimony and length varies based on many personal factors, like marital
assets and work history.
This form of alimony was usually awarded in situations where both parties were
married for significant length before the divorce. In most cases, permanent
alimony ws awarded when one spouse was financially dependent on the other
during the marriage. However, New Jersey governor Chris Christie recently
signed a bill that will limit payments to the length of any marriage that lasts less
than 20 years and end most alimony support after the paying spouse retires.
Located in Nutley, New Jersey, The Micklin Law
Group is dedicated to meeting the needs of
their clients using personalized service and
expert counsel. They pride themselves on
efficient and frequent communication
designed to help clients faced with often-
overwhelming legal tasks. Unlike large firms
where clients are just a number, The Micklin
Law Group follows every detail of a case from
beginning to end.
To learn more, please call 973-562-0100 or visit
http://micklinlawgroup.com/.
• http://micklinlawgroup.com/family-law/spousal-support/
Sources