When you get a divorce as a dependent spouse, you most likely have several financial concerns compounding your emotional stress. Many dependent spouses wonder how they will be able to continue making car payments, living in their homes, and more. The state of New Jersey, fortunately, recognizes that dependent spouses and their children deserve to have the financial impacts of their divorce mitigated so they can go on living life as normally as possible. If you are a dependent spouse and are seeking alimony payments, here are some of the questions you may have:
How is alimony calculated in New Jersey?
The courts will consider several factors when determining your alimony payments. Some of the most important things a court will consider are as follows:
- The age, physical, and emotional health of both spouses
- Both spouses earning potential, educational levels, and employability
- The duration of the marriage
- The standard of living established in the marriage
- The history of financial or non-financial contributions to the marriage
- The equitable distribution of property ordered
- The income available to both spouses through the investment of assets held
- Parental responsibilities for the children
- Any other factors the courts feel impact the financial structure of your marriage
What are the different types of alimony structures?
There are several types of alimony structures, though the structure for you depends on your unique situation. The four primary categories of alimony structures are as follows:
- Limited duration alimony: This is when a couple’s relationship ends after a short time and the judge feels the dependent spouse will only require support on a limited basis until he or she can become financially independent once again.
- Open durational alimony: When a couple has been married for 20 years or more, the dependent spouse may receive open durational alimony payments with no set end date. However, if either party’s financial situation changes, the structure can be modified.
- Rehabilitative alimony: This is a short term obligation, reserved for a dependent party that deferred goals to support the other spouse’s success through obtaining higher education or vocational training that would advance their earning potential.
- Reimbursement alimony: This type of alimony is reserved for a party that supported the other in pursuit of education, advancing the financial status of the family. This alimony seeks to pay back what was spent on the other’s support.
Contact our experienced Union County firm
When determining spousal support, there is a lot on the line. This is why you must ensure you have a knowledgeable and compassionate attorney on your side. He or she will fight for the alimony obligations you need to uphold your quality of life.
Ross and Calandrillo, LLC is a full-service divorce, family, and real estate law firm located in Mountainside, New Jersey. For strong legal representation in all of your divorce or family law matters, contact Ross and Calandrillo, LLC to schedule a free consultation.