How do I Terminate Alimony Payments After Retirement in New Jersey?
After a divorce, an independent spouse may owe alimony payments to a dependent spouse for a period of time. This is to allow them the financial stability they were used to in the marriage before they divorced. These payments are allowed for a designated period of time and can be terminated under certain circumstances. A life event that can call for the termination of alimony payments can include retirement. In order to go through with this termination, the spouse must petition the court for a post-judgment modification. Continue reading below to learn more.
What is a Post-Judgment Modification?
Life goes on after a divorce and former-spouses can experience significant change in their life. When this happens, it has the potential to alter their ability to maintain any divorce or family law settlements they are obligated to uphold by law. For example, this can include alimony payments. If former-spouses experience a change in their life after a divorce that may alter the need for alimony payments, they can petition the court to receive a modification of these payments. To do so, the individual petitioning must be able to prove a number of things to the court in order to receive the modification.
What do I Need for Proof?
New Jersey’s alimony statute N.J.S.A 2A:34-23 addresses the effect that retirement has on a former spouse’s obligation to alimony. In order for alimony to be terminated due to retirement, the individual is required to make a case under a change of circumstances analysis. This requires the court to consider if the individual saved adequately for retirement. This can be done by taking the following factors into consideration:
- The age and health of both parties at the time of the application
- The individual’s field of employment and the accepted age of retirement in that field
- The age the individual becomes eligible for retirement at their place of employment, including mandatory retirement dates or dates upon which continued employment would no longer increase retirement benefits
- The individual’s motives in retiring, including any pressures to retire by their employer or incentive plans offered by their employer
- The reasonable expectations of the parties regarding retirement during the marriage or civil union and at the time of the divorce or dissolution
- The ability of the individual to maintain support payments following retirement, including whether they will continue to be employed part time or work reduced hours
- The other former-spouse’s level of financial independence and the financial impact the retirement would have on them
- Any other relevant factors affecting both parties’ respective financial positions
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