Types of Alimony in New Jersey
Alimony is a form of payment made from one ex spouse to another for a variety of considerations. Judges may factor in the length of a marriage, the education, earning capacity, and employability of both spouses, the age and health of each party, and more when determining the amount and type of alimony to be paid. In New Jersey, there are several different types of alimony dependent on each unique situation. Today, our divorce attorneys will review the types of alimony available and when each comes into play.
Call our office today for a free and consultation with a member of our legal team if you have any questions or concerns about alimony, divorce, alimony modifications, alimony enforcement, or temporary alimony during divorce.
Morris County, NJ Alimony Attorneys Define “Open Duration Alimony”
In 2014, “permanent alimony” was legally renamed “open duration alimony”. This change was partially made to clear up the potentially confusing use of the word permanent, which was in many ways not accurate. Open duration alimony has no set time frame. This is in contrast to all other forms of alimony, which have distinct end dates.
Pursuant to 2014 New Jersey Alimony Reform, in order for an ex spouse to be eligible for open duration alimony, the marriage must have lasted 20 or more years. As with many alimony agreements, open duration agreement may be modified or even terminated based on extreme changes in circumstance such as illness, retirement, loss or gain or property, and more.
Limited Duration Alimony: Chester Divorce Lawyers
Limited duration alimony is the most common form of alimony in New Jersey. For marriages lasting less than 20 years, this is the standard type of alimony agreement. As the name implies, these agreements do come with a finite time frame. Limited duration agreements may be beneficial to both parties, as they are able to financially plan for the total sum of money which will be changing hands over a pre-determined amount of time.
In fact, it is common for both parties to agree to an early buyout of the agreement to simplify matters. Not only is this an attractive possibility for the financial standpoint, but it is also an opportunity to sever all ties to an ex spouse when that is desired. Much like open duration alimony, limited duration alimony agreements are able to be modified under certain circumstances.
Mendham Alimony and Divorce Attorneys Discuss Other Types of Alimony
Temporary Alimony – during a divorce, alimony may be paid on a temporary basis in one of two ways: “pendente lite” or through a court order. Pendente lite is a latin term meaning “pending litigation”. In other words, if a divorcing couple is able to reach an agreement without litigation, they may do so on a temporary basis until the marriage is finalized.
Rehabilitative Alimony – for marriages which lasted a shorter amount of time, generally between three (3) and six (6) years, rehabilitative alimony may be used to allow an ex spouse the opportunity to prepare him or herself for life as a non-married person. This frequently includes considerations for education such as college, trade school, community college, or other career training. Rehabilitative alimony agreements are not eligible for modification.
Reimbursement Alimony – in the situation where a spouse has sacrificed career or educational advancement in order to assist the other spouse with their goals, reimbursement alimony may come into play. The amount and duration are determined on a case-by-case basis.
Contact our Morristown Alimony Attorneys Today for a Free and Confidential Consultation
The divorce attorneys of Townsend, Tomaio & Newark practice exclusively divorce and family law for our clients across New Jersey towns including Chester, Morris Township, Chatham, Mendham, Morristown, Harding, and the greater Morris County region. Our legal team is led by three partners who are all Certified Matrimonial Lawyers, a distinction granted by the New Jersey Supreme Court. Lean on our experience and intimate knowledge of local family law to seek an amicable and successful resolution to your divorce or alimony dispute.
Contact us online or through our Morristown offices by calling (973) 828-0829 today for a free and confidential consultation regarding your alimony, divorce, child custody, child support, or any other family law legal matter.