Types Of Alimony In New Jersey
If you are getting divorced and you live in New Jersey, alimony may be an issue for you (either paying or receiving). Simply put alimony, or spousal support, is a financial obligation that will be paid by one ex-spouse to the other. Other than issues related to child custody, this will probably be the most discussed issue in your divorce negotiations.
The purpose of alimony is to allow the supported spouse to have a post-divorce lifestyle similar to that which was enjoyed during the marriage. An experienced alimony attorney in Monmouth County will first have to determine what type may be appropriate in your situation.
New Jersey currently recognizes four types of alimony:
- Limited duration alimony – This type of alimony is generally awarded after a short-term marriage. Both the amount and duration are specifically outlined and is usually short-lived.
- Rehabilitative alimony – This type of alimony is generally awarded when it is believed that the supported spouse will be able to enter the workforce after education or training. This type of alimony usually includes a plan that specifically details the amount of time required for ex-spouse’s education or training, and a specific date when it is expected that the ex-spouse will enter the workforce.
- Reimbursement alimony – This type of alimony is generally awarded when one spouse has financially supported the other through education or training (such as an advanced degree) anticipating that the dependent spouse would eventually enjoy the earning spouse’s increased income.
- Permanent alimony – This type of alimony is generally awarded when it is believed that the supported spouse will be unable to support himself/herself after the marriage. This type of alimony is generally awarded after a long-term marriage where one spouse exited the workforce to care for the parties’ home and children. The duration is permanent, or until the supported spouse remarries.
Many factors and circumstances must be considered in determining the appropriate type of alimony applicable to your specific circumstances. It is important to note that alimony is taxable to the recipient and tax-deductible to the payer.
Discussing Options Can Only Help You And Your Circumstances Surrounding Alimony
Whether you are going to pay or receive alimony, it is vital that you discuss your situation with an experienced Middlesex County matrimonial attorney. He or she will discuss your specific situation and develop a plan that best allows you to live a post-divorce lifestyle reasonably similar to that which you enjoyed during your marriage.