Financial concerns can be a significant cause for the stress that many people feel during the divorce process. A number of parties are making the shift from a two-income household to coping with a single income. Others may have served as a stay-at-home parent during the marriage and are not currently employed.
Child support helps parties manage some bills when there are minor children, but New Jersey courts recognize that individuals may need financial assistance beyond child support while they take steps to become financially self-sufficient.
New Jersey courts consider a number of factors when determining whether to establish alimony and for how much. These include the length of the marriage, the standard of living established during the marriage, the earning capacity of each party and financial contributions made by one party to the other party's education or job training.
New Jersey courts award different types of alimony depending on specific factors. These are:
- Temporary alimony (pendente lite) is awarded only during the divorce proceeding itself to help a low-earning party maintain a certain standard of living and manage expenses. Financial assistance may transfer to a different type of alimony once the divorce is final.
- Limited duration alimony is payment for a predetermined number of months or years. Limited duration alimony may be appropriate for marriages in which financial assistance is appropriate, but the marriage was not long enough to award permanent alimony.
- Rehabilitative alimony provides financial support to a spouse who needs to complete education, training or otherwise obtain the necessary credentials in order to reintegrate into the work force.
- Reimbursement alimony is awarded when one spouse helped finance the other spouse's education or job training that resulted in increased income. This typically is for the amount spent on education alone and does not factor in the salary earned by the other spouse as a result of the education.
- Permanent alimony is typically awarded after a long-term marriage in which one spouse is unable to become self-supporting due to age, health or other factors.
Put An Experienced Bergen County Alimony Lawyer On Your Side
Spousal support in New Jersey is distinctly different from child support, which follows a more rigid formula. The courts have significantly more leeway in determining alimony. That is why it is vital to have an experienced New Jersey family law attorney on your side.
At Schepisi & McLaughlin, P.A., in Englewood Cliffs, we know how to maximize the amount of alimony that an individual receives, as well as how to prevent clients from paying more than their fair share.
Often, pursuing a fair alimony settlement involves extensive investigation into a closely held business that operates primarily in cash. In these situations, we work with forensic accountants and other specialists who help us present a clear picture of total revenue in order to reach a fair agreement. We have extensive experience with high net worth divorce cases.
Contact us to schedule a free consultation in which we can answer your questions regarding alimony and any other family law matter.