When you get married, your and your spouse’s assets become entangled in a number of ways. As a result, it can be hard to separate these assets in the event of divorce. In this case, one spouse may pay alimony, also known as spousal support, to the other. Read on to learn more about alimony, the different types, and how it is determined in New Jersey.
Are There Different Types of Alimony in New Jersey?
The type of alimony awarded will depend on the situation. In New Jersey, there are four different types of alimony that may be awarded. These types are as follows:
- 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?
The court works to determine who pays alimony, what type of alimony is paid, and the amount and duration of the payments. In order to make this decision, 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 or concerns about alimony in New Jersey, our firm is here to help. Reach out to speak with an experienced divorce attorney.
CONTACT OUR FIRM
If you need an experienced legal team to guide you through your divorce, contact Townsend, Tomaio & Newmark L.L.C today.
