A divorce is always an emotionally and financially challenging period. Until you are ready to deal with the hurt and carry on, it can easily have an impact on every aspect of your life. Unfortunately, when there are alimony payments involved in the divorce, things can become much more difficult and frustrating. One spouse might believe they are entitled to financial support from a former partner, while the other is enraged.
A couple may argue for months over who should receive alimony and the appropriate amount. But, the good news is that alimony in New Jersey is governed by a set of explicit regulations and norms. Do not let disagreements with your spouse or unforeseen legalities catch you off guard. It’s time to get ready by learning everything you can regarding alimony in New Jersey.
Alimony: What Is It?
As we are talking about alimony, let’s first understand what it actually means. Well, you can say that once the divorce is finalized, one spouse pays the other spouse alimony. In order to avoid spouses from being unduly reliant on this source of money, these payments frequently have an expiry date.
A very genuine financial issue that one spouse has after a marriage ends is often the reason alimony payments are made. You should keep in mind that there are four more alimony payment categories when we talk about New Jersey. Those four categories include alimony pendent lite, limited duration alimony, rehabilitative alimony, and reimbursement alimony.
Alimony in New Jersey: Things to Keep In Mind
In New Jersey, there is no such thing as permanent alimony, so keep that in mind if you’re considering it. When the paying spouse attains the age of 67, all of the aforementioned directives can be altered or terminated. This law forbids spouses from using retirement funds to cover alimony payments.
Furthermore, family law attorney the amount of alimony paid cannot surpass the duration of the marriage. You cannot petition for alimony payments to continue through the end of your partnership unless the judge finds that there is a special situation that justifies continued payments.
Factors That Determine Your Eligibility for Alimony in New Jersey
If you want to know whether you are eligible for alimony in New Jersey or not, keep in mind that there are no accurate guidelines regarding it. Instead, there are various factors that the judges might consider and then make decisions in each case.
- The judges might consider whether a spouse is able enough to pay alimony to the other.
- Whether the receiving spouse requires financial aid or not makes a big difference.
- The judgment of who is accountable for making alimony payments will be heavily influenced by the income of both spouses.
- The way in which the parental duties are divided between the spouses plays a huge role so that the spouse with the child’s custody is not burdened with alimony payments as well.
How Is Alimony Calculated in New Jersey?
Wondering how you calculate alimony in New Jersey? Well, you should know that in New Jersey, alimony is currently not calculated using a standard method. Since every situation will be entirely unique, a court should examine each party’s finances with objectivity.
The judge’s ruling will be determined by the couple’s discrepancies and financial demands when they start separate houses. Who qualifies for alimony payments will also depend on how equitably the other assets are divided.
The Bottom Line
There are numerous aspects and considerations to take into account while determining alimony in New Jersey. But, the judges have the right to render any judgments they believe to be in the interests of both parties. Get in touch with the experts now if you are also looking for a family law attorney in New Jersey.