3 min read
Going All in On Alimony
By: Richard Sopko on Feb 27 2019
Alimony is the court determined amount of money the court chooses to have one partner pay the other during and after a divorce. It's intended purpose is to allow both halves of the couple to maintain the lifestyle that was established during the relationship. To determine how much will be paid out, New Jersey uses 14 different points to calculate what alimony is entitled to:
(1) The actual needs and ability for the individuals to pay.
(2) The length of the marriage or civil union.
(3) The age and health (physical and mental) of the individuals.
(4) The standard of living established during the course of their marriage and the possibility that each individual can maintain a reasonably comparable standard of living, with neither party having a greater entitlement to that standard of living than the other.
(5) The earning capacities, education and chance of them being employed.
(6) The length of time the individual seeking payment has been unemployed.
(7) The parental responsibilities involving their children.
(8) The time and expense that is needed to obtain adequate education and/or training to allow the individual seeking payment to acquire employment, the availability of the training and employment, and the chances for future acquisitions of capital assets and income.
(9) The history of each individual’s contributions, monetary or otherwise, to the marriage or civil union, including contributions to the care and education of the children and interruption of personal careers or educational opportunities.
(10) The equitable distribution of property and payouts on equitable distribution, directly or indirectly, out of current income, to the extent this consideration is reasonable, just and fair.
(11) The income available to either individual through investments relating to any assets held by that individual.
(12) The tax treatment and consequences to both individuals of any alimony award, including the designation of all or a portion of the payment as a non-taxable payment.
(13) The nature, amount, and length of pendente lite support paid, if any.
(14) Any other factors which the court may deem relevant.
Now that you understand the points that go into the consideration of alimony it's also important to understand that there is no universal period of time that alimony is recieved.
Types of Alimony
There are also several different kinds of alimony, such as Pendente Lite also known as Temporary alimony, you can read more about Pendente Lite HERE. Other types of alimony include:
Rehabilitative alimony - If a marriage has been short term one partner may have foregone opportunities that would have helped their careers. For example if one spouse fails to finish schooling due to staying home with children. Rehabilitative alimony is usually for a shorter period of time that will allow the spouse to gain education and training to help them in the job market.
Reimbursement - When one partner in the marriage has made significant contributions to the career or education of the other they may qualify for alimony reimbursement. Since these investments are so often made with an eye to the future, now that the planned for future is disrupted they may seek to have their investments in the other person returned.
Limited Duration - Usually based upon the length of the marriage limited duration alimony will be determined by the 14 facts discussed above. Generally this is when the parties are both young and have strong employment possibilities once the marriage has been dissolved.
Open Durational formerly 'Permanent' - For relationships that have deteriorated after a long period of time, often they'll find themselves seeking open durational alimony. The term was changed from permanent because like all things in the alimony process it's length is determined by numerous factors. Most of the time if open durational does end up being granted the payments will continue until one party has a reason for them to cease or due the conditions of retirement.
This can seem like an intimidating process looking at it from this view. There are so many variables at every step of the way it's difficult to know what would be best for you. Your specific situation is unique. We understand that, our attorneys will take the time to go through things point by point to make sure you're outcome is the absolute best possible.
If you are seeking representation for a divorce related case call today for a free consultation 800-709-1131 or fill out a contact form on our website for a no-cost consultation.We hope to hear from you today!
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