A divorce is difficult on families and individuals. Emotionally, one has to deal with the struggle of separating from a former spouse. There are also financial issues that will come up, such as Monmouth County alimony determination and property division.
With most financial decisions, the court will look at a number of different factors when dividing up the assets or setting a payment plan in place. In 2014, Governor Christie signed new laws that updated New Jersey’s spousal support laws. A divorce lawyer can help you by explaining what rights you have regarding support. A skilled alimony attorney can also help you understand what kind of financial obligations you may have in the future.Types of Alimony
There are three different types of alimony available: open durational alimony, rehabilitative alimony, limited duration alimony, and reimbursement alimony. Open durational alimony is spousal support that does not have a specific end period. The new law in 2014 removed permanent alimony, and instead, spousal support can be modified or removed when the spouses reach the federal retirement age of 67.
The new general rule is that all marriages that were under 20 years in duration cannot have an alimony term longer than the marriage unless there are exceptional circumstances. If a couple was married for 15 years, then alimony cannot last longer than 15 years.
Rehabilitative alimony is when a spouse needs spousal support for a set period of time to allow them to change their life to support themselves. For this type of support, the person asking for the support has to show a plan and a timeline for how and for how long the support will last to rehabilitate them.Limited Durational Support
Limited durational alimony is spousal support with a set time period when it will end. When deciding how long limited durational alimony will last, the court will consider how long it will take the person to reach an income level where they no longer need spousal support.Reimbursement Support
Reimbursement alimony is spousal support to repay a spouse that financially supported the other spouse while they were earning their education. The idea is that one spouse paid for the other to go to school assuming they would share in the benefit of that advanced education. This type of alimony cannot be modified.Factors in Determining Alimony
The length of the marriage and the standard of living are taken into consideration in Monmouth County alimony determination. The standard of living often means assessing the marriage and the likelihood of each party maintaining that life. If one spouse needs a form of education or training, it is relevant to note the cost and time frame necessary to complete that process. If there are children involved, it will be important to address each party’s responsibilities towards them as well as the age, emotional, and physical health of both parties.Role of Financials
Because money and earnings play a large role when separating, the actual need for the support and the ability to pay the other spouse is also assessed. This then calls into question each spouse’s educational level, earning capacity, employability, and vocational skills.
For the individual asking for support, it is important to know how long they have been out of the workforce, what contributions each person made within the marriage including financial and non-financial contributions. Individuals should also be mindful of whether there are tax consequences to each party after making Monmouth County alimony determinations.
Determining spousal support requires an understanding of how property was divided in the divorce and whether there is any available income to each person through income from assets.What is Pendente Lite Support?
Pendente lite support is considered temporary support during a separation. With the help of an attorney, individuals can determine how long that type of support went on, how much it was, and how it was classified.Contact a Lawyer
The advice and guidance of a lawyer are often invaluable during a Monmouth County spousal support determination. Contact a spousal support lawyer who can protect your rights and explain your financial obligations under a spousal support agreement.