Whether you will be (or are already) paying or receiving alimony, your primary concern is to be able to afford to live well after your divorce. This is your new beginning and we understand you will be fearful about getting the best alimony agreement to enable you to plan for that bright new future.
Alimony (or “spousal support”) can play a big role determining the quality of your new life and affect your financial standing for years to come. As such, we understand how important this is to you and we work diligently and creatively in your support negotiations to ensure a settlement that is right for you. Here’s everything you need to know about how alimony works in New Jersey.
The main purposes for alimony are:
Deciding whether spousal support is appropriate in any given divorce case can be complicated. Do you want to assess the probability of an award either as a payer or as a recipient in your particular situation? We offer a free strategy session with an experienced family law attorney. Get answers to your questions and advice in a free consultation.
The following factors generally have the greatest impact on spousal support decisions:
- Length of the marriage (Reforms to the New Jersey alimony statute effective in September of 2014, place limitations on the duration of alimony awards in connection with the length of a marriage)
- The marital standard of living
- Each spouse’s age and health
- The income available to each spouse, including any income resulting from marital property distribution
- Each spouse’s history of financial or other contributions to the marriage, including contributions as a homemaker or parent
- Each spouse’s ability to earn, based on factors such as education, job history, parenting responsibilities, and the possible need for education or training to qualify for appropriate employment
- Whether one spouse needs financial support to maintain a lifestyle reasonably close the marital standard of living
- Whether the other spouse is able to pay such financial support and still maintain a comparable lifestyle
- The tax effects of payments (alimony is generally taxable income for the receiving spouse and tax deductible for the paying spouse)