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Wednesday, September 27, 2023
Alimony: We Work to Get You What You Need to Keep Going
When deciding whether or not to award alimony, how much to award, and how long it should last, New Jersey courts consider several statutory factors. A New Jersey alimony lawyer can assist you in determining how the statutory alimony considerations apply to you.
The following factors have the most influence on spousal support decisions:
The Tax Effects of Alimony Payments
Alimony paid before 2019 was generally taxable income for the receiving spouse and tax deductible for the paying spouse; alimony paid in 2019 or after is no longer taxable or tax deductible for either spouse). orney New Jersey
Length of Marriage
There is no set period of marriage that automatically establishes an alimony obligation in the law. It is important to remember that if you were married for less than 20 years, New Jersey would not allow alimony to be paid for more than the length of the marriage unless there are exceptional circumstances, such as chronic illness of the dependent spouse or whether or not the spouse in need is the primary caregiver of the children.
The Standard of Living
The court considers whether one spouse requires financial assistance to maintain a lifestyle that is reasonably close to their standard of living when they were married. In the same manner, they also consider whether the other spouse is able to pay such financial assistance while maintaining a comparable standard of living.
The Age and Health of Each Spouse
The age and health of each spouse are important considerations since they can have a direct impact on a person’s ability to sustain themselves financially and re-enter the labor force. When one spouse is much older or suffers from health difficulties that limit their capacity to work, they may be at a disadvantage when it comes to generating funds to support themselves after the divorce.
Each Spouse’s Income
Alimony is intended to rectify the income gap between the parties as a result of the divorce or separation. As a result, the court looks at each spouse’s income to determine their financial needs and ability to maintain their different levels of living after the marriage is dissolved. This includes any income deriving from marital property distribution.
History of Each Spouse’s Financial or Non-Financial Contributions to the Marriage
The state of New Jersey recognizes that both spouses contribute to the marriage in different ways. The court aims to guarantee that the economic discrepancy caused by the divorce is addressed properly through the alimony order, whether one spouse was the principal earner while the other managed the household or both couples contributed equally in financial and non-financial ways. Alimony Attorney New Jersey
Each Spouse’s Earning Capacity
This is determined by characteristics like education, career history, parental obligations, and the potential need for more education or training to qualify for relevant employment.
Learn More: How is Alimony Determined in New Jersey?
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