The state of New Jersey has recently modified alimony laws. To learn more about if alimony is permanent, reach out to our skilled Somerset County alimony attorney today. Our legal team is on your side.
What are the different types of alimony in New Jersey?
Recently, alimony laws have changed in New Jersey. The state has gotten rid of “permanent” alimony because it was never intended to be permanent. Rather, this new law has now resulted in alimony being referred to as “open-durational” to more sufficiently define this type of alimony. New Jersey has four different kinds of alimony structures, including the following:
- Limited durational alimony: To be entitled to this type of alimony, dependent spouses in short-term marriages may qualify. The award relies on the duration of the marriage, the age of the parties involved, and the earning capacity of each spouse. The objective is to help one party become financially secure through a support system within a fixed period of time.
- Open durational alimony: For dependent spouses in marriages lasting more than 20 years, this type of alimony may be awarded. Even though the structure has no end date, the amount of alimony and the end of the alimony can always be changed by evolving circumstances to the economic need and the earning potential of each partner.
- Rehabilitative alimony: This refers to a short-term support structure to help the dependent spouse to reach financial stability. This kind of alimony is typically used to advance one’s education.
- Reimbursement alimony: If a dependent party has set aside their interests for the other, this alimony structure is used to pay them back for the support they have offered. In the event that one spouse worked while the other was in school, this support structure will compensate them for the cost of supporting the spouse pursuing higher education.
How is alimony determined?
Even though many couples going through a divorce will question whether alimony is even an option for them, especially when both spouses are financially independent of one another, the court will still consider a number of factors to determine spousal support. Some of these factors include:
- The length of the marriage
- The need and ability of either party to pay
- The age and health of either party
- The standard of living that was established over the course of the marriage
- The earning capacity of either party
- The need for education to advance the earning capacity of either party
- The history of financial contributions made by either party during the marriage
- Tax considerations of an alimony award
Reach out to our firm today to speak with a skilled Somerset County divorce attorney.
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