What to Know About the Different Types of Alimony in New Jersey
There are many different matters that must be settled in a divorce before the marriage is officially over. It is usually very difficult to have a clean break during a divorce, as many spouses have been together for a significant amount of time. This results in their lives being intertwined in a variety of ways, specifically financially. There are many instances in which a spouse may be required to pay court-ordered financial support to their former spouse after their divorce. This is known as alimony. Continue reading below to learn more about the different types of alimony available to spouses in New Jersey.
Types of Alimony
A divorce can sometimes leave one spouse in an unfair financial standing. In these situations, the court may require alimony to be paid for a period of time. In New Jersey, there are four different types of alimony that can be paid depending on the circumstances of the marriage. This includes:
- Open Durational Alimony: This may be ordered for couples who were married or in a civil union for more than 20 years. There is no end date to the payments until there is a reason to terminate, such as cohabitation, remarriage, if the spouse paying becomes disabled or unemployed, or if the dependent spouse becomes independent.
- Limited Duration Alimony: This may be ordered for couples who were married or in a civil union for less than 20 years. These payments should not be made longer than the length of the marriage/union. Termination may also be allowed in the event of a change in either party’s financial situation.
- Rehabilitative Alimony: If the dependent spouse put off a career to support their partner and family, this alimony may be owed so that they can pursue schooling or training to get back in their field.
- Reimbursement Alimony: This type of alimony reimburses a former spouse if they financially supported their partner’s education or training.
How is Alimony Determined?
Matters of alimony are determined by the court, as it tends to be a very sensitive subject in a divorce. When deciding the type of alimony and the amount that is owed to a spouse, the court will consider a variety of different factors relating to the marriage. This includes:
- The length of the marriage
- The age and health of each spouse
- The earning capacity of each spouse
- The needs of the dependent spouse
- The independent party’s ability to support the dependent party
- Whether the dependent party had a significant absence from the job market
- The equitable distribution of property
- Each spouse’s responsibility for any children they have
- The standard of living the couple established during their marriage
- If there is any income available from investments
- If there are any tax implications from spousal support payments
Contact our Firm
If you need an experienced legal team to guide you through your divorce, contact Townsend, Tomaio & Newmark L.L.C today.