Factors Involved in Calculating Alimony Payments in New Jersey
Alimony, also called spousal support, was designed to help financially support the lesser earning spouse once a couple decides to divorce. Alimony is gender neutral, allowing both men and women to receive alimony from their spouse.
Judges will consider a number of different factors when determining whether ordering alimony is appropriate and how long the support will last.
Factors Judges Consider When Determining Alimony Payments in Cherry Hill, NJ
The purpose of similar alimony payments to one spouse is to enable both parties to continue living at the same standard of living as they did during the marriage. New Jersey’s laws define fourteen different factors that judges must consider before making a determination about spousal support. These factors include:
- The current financial circumstances of both parties including the actual needs and ability to pay of both parties
- The total length of the marriage
- The age, mental status and physical health of both parties
- The standard of living established during the marriage
- The earning capacity, educational level, skills and employability of both parties
- The length of absence from the job market and difficulty in re-entering the workforce
- The parental responsibilities associated with the couple’s children
- The expenses and time that would be required to obtain an education to re-enter the workforce
- The history of contributing financially to the marriage (including homemaking, parental responsibilities or sacrifices made for the family unit)
- The equitable distribution of property which may satisfy the dependent spouse’s needs
- Income available to both parties through assets or investments
- The consequences of potential alimony awards on both parties
- The amount or length of any temporary interim support payments
- Any other factors which the court deems relevant
How Long Will Alimony Last?
New Jersey’s laws prohibit alimony payments from exceeding the total duration of the marriage. When making a determination about how long the alimony should last, the length of the marriage is one of the most crucial factors. Limited duration alimony payments are only made for a fixed period of time and are usually used for marriages that lasted less than 20 years. The amount of the payments may be changed based on a significant change in circumstances for either party. Rehabilitative alimony, on the other hand, only lasts until the dependent spouse is rehabilitated to obtain viable employment. Open duration alimony can last for the duration of the party’s lifetime, but usually up until retirement age as established by Social Security.
Contact a Cherry Hill Family Law Attorney for a Consultation About Your Alimony Payments in New Jersey Today
If you are thinking about filing for divorce, or if you have already started the divorce process and are dealing with another matter such as child custody, child support, or division of assets, you need to speak with a qualified attorney. The New Jersey family law attorney Lois Garber Schwartz, Esq. represents clients throughout the state, including Camden, Haddonfield, Voorhees and Collingswood. We understand how challenging this time can be for you, which is why we will fight hard to protect your interests, and the interests of your loved ones, throughout the legal process. Call us at (856) 375-8989 or fill out our confidential contact form to schedule a consultation. We have an office conveniently located at 1040 Kings Highway N., Suite 202, Cherry Hill, NJ 08034.
The articles on this blog are for informative purposes only and are no substitute for legal advice or an attorney-client relationship. If you are seeking legal advice, please contact our law firm directly.