What are the Different Types of Alimony in New Jersey?
Alimony is a matter that is considered in many divorces. What many people do not realize is that there are different types of alimony. Additionally, alimony is often stigmatized and has a lot of false connotations. For example, many people assume gender plays a role in alimony decisions, but this is not the case. No couple is the same, so there will be a different alimony solution for every couple. To learn more about alimony in New Jersey, the different types, and how alimony is determined, read on.
What Are The Different Types of Alimony in NJ?
There are four main types of alimony in New Jersey. This includes the following:
- 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. Some reasons to terminate may include 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 into their field.
- Reimbursement Alimony: This type of alimony reimburses a former spouse if they financially supported their partner’s education or training.
How is the Type and Amount of Alimony Determined?
When the court determines who will pay alimony, what type of alimony, how much will be paid, and for how long, they will examine the following factors:
- 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
If you have any questions about alimony, contact our firm for more information. In the event of a divorce, you will want an experienced attorney on your side. We are here to help guide you through the process.
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If you need an experienced legal team to guide you through your divorce, contact Townsend, Tomaio & Newmark L.L.C today.