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March
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Alimony is monetary support of one spouse by another in the wake of a divorce. It is decided upon by the New Jersey Court and their decision is guided by New Jersey’s alimony laws.
In 2014, New Jersey’s new alimony law passed. This new statute is very different from the old law. Under the new statute, New Jersey permits four types of alimony: open duration alimony, limited duration alimony, rehabilitative alimony, reimbursement alimony or a combination. In order to determine alimony, the Court considers the following:
A divorce separates not only people and lives, but physical assets as well. New Jersey distributes assets fairly by taking into account many, many factors about the previous marriage or civil union, such as what the assets are worth, where they came from, who contributed to them, and much more, as revealed below.
The NJ alimony statute, effective September 10, 2014, addresses the issue of termination of alimony in light of a payor’s retirement. The new NJ Alimony Reform Retirement allows a person to make an application based upon prospective retirement; whereas, the prior law required actual retirement. In addition, there is now a rebuttal presumption that alimony ends when the person who is paying alimony reaches retirement age. The presumption may be overcome upon consideration of the following factors and for good cause.
Just like anything in life, divorce is not an independent event. It affects other areas of the couple’s lives, and other areas of their lives affect the divorce. Sometimes there are additional causes of action (which are grounds that entitle someone to sue or seek legal action against another) that should be considered when going through a divorce.
