Will I receive alimony? How much alimony will I receive?
Will I have to pay alimony? How much alimony will I have to pay?
One of the most contentious and stressful aspects of any divorce case is alimony, financial support paid to one spouse by the other after a divorce is finalized. No one wants to pay it and everyone wants to receive it. In a divorce situation, either party, husband or wife, may have to pay or may qualify to receive support.
When starting the divorce process, clients often want to discuss alimony immediately and have every right to be concerned about their financial future. We understand this concern and are prepared to discuss your options and give you realistic expectations of you may have to pay or receive once your divorce is final.
In New Jersey, there are four recognized types of alimony. The first, permanent alimony is usually awarded when a long-term marriage is ending and one spouse has an income significantly higher than that of the other. Rehabilitative alimony can be awarded to provide short-term support for educational and training purposes. This requires a detailed plan including timeframe leading to eventual employment. Limited duration alimony may be given in shorter marriages where one spouse needs temporary financial support to establish his/her post-divorce life. And finally, reimbursement alimony can be provided to a spouse who supported the other through extensive education and training for a lucrative career.
How is alimony calculated in New Jersey? When arriving at alimony awards, the goal of the court is to provide each spouse with a standard of living similar to what was enjoyed during the marriage. Unlike child support, there is no one formula the New Jersey courts use for deciding upon and then finally awarding alimony. Rather there are a loose set of guidelines suggesting factors that may be considered in determination including: length of marriage, the marital lifestyle the couple enjoyed, income of both spouses, anticipated post-divorce expenses, educational level, employment history and future employment opportunities, as well as other financial obligations including child support
Most divorcing couples are shocked to learn that alimony has tax implications in New Jersey. If you receive alimony, that is considered taxable income and alimony is a tax deduction for those who pay it. This tax exposure is critical to both your short term and long-term financial picture so it is critical to get a clear understanding of the influence of support.
Whether you are the one that is paying alimony or will receive it, you need an experience team of attorney who can evaluate all aspects of moving forward with your new life and negotiate a financial future for your happiness and comfort. Our expertise can be of great assistance in sorting out these legal obstacles, give us a call today.
- New Jersey Alimony and Spousal Support Lawyer
- What is New Jersey Alimony Reform?
- Can Paying New Jersey Alimony Ever Be A Good Thing?
- A New Jersey Family Court Balances the Equities When Handling a Motion for a Reduction of Alimony
- How Do New Jersey’s New Alimony Laws Effect Cases Where Cohabitation Was Occurring Before The Law Was Changed?
- How May New Jersey Alimony Laws Affect a United States Veteran?
- In My New Jersey Divorce, What Questions Will I Be Asked Regarding Alimony?
- Will I Lose My Alimony If My Ex Voluntarily Retires Early?
- How Cohabitation Has Changed Under New Jersey’s New Alimony Law; A Case Study
- In Order To Lower My Alimony Payments, Do I Need An Expert To Testify?
- Does New Jersey’s New Alimony Law Apply To My Most Recent Court Order?
- New Jersey Family Courts May Reduce Alimony But Not Terminate Even At Sixty-Six Years Of Age.
- How Is Alimony Determined By A New Jersey Court?
- Does Life Insurance Pay For Alimony If The Payer Dies?
- May I End My Alimony Payments In New Jersey If I Am Unemployed?
- New Jersey Alimony Laws Are Not Retroactive Before September 2014
- Do I Still Have To Pay Alimony If I Go To Jail?
- May Alimony Be “Non-Modifiable” In New Jersey?
- Is Alimony Decided If My Divorce Goes To Arbitration?
- What Do I Need To Prove Cohabitation To Stop Alimony Payments?
- Must I Prove A “Change In Circumstances” To Reduce or End Alimony?
- If You Want To End Your Alimony Payments In New Jersey, You Must Prove Your Case!
- How May I Increase My Alimony Payments In New Jersey?
- Is New Jersey’s Palimony Law Constitutional?
- Under N.J. Law, Is The Alimony Factor Of The “Standard Of Living” Applicable To Both Parties?
- Are Savings Accounts Taken Into Consideration When Determining Alimony?
- When Seeking To End Alimony Because My “Ex” Is Living With Someone, What Facts Do New Jersey Lawyers and Judges Focus On?
- Do I Get Credit For Alimony Paid During My Divorce?
- Is New Jersey, Is Alimony Based Upon My Gross Or Net Income?
- Will I Lose My Alimony If My Ex Voluntarily Reduces Their Income?
- Cohabitation Results In Less Alimony But Not Termination In New Jersey
- East Brunswick Alimony Lawyer
- If My Salary Decreases Will My Alimony Automatically Decrease Too?
- What Happens With My Alimony Payments If I Retire?