Evidently, the New Jersey family court will look into your and your former spouse’s finances when deliberating on an alimony agreement. With this, your former spouse’s financial needs may not be the only thing that matters when it comes to how much and what type of alimony is awarded. Continue reading to learn whether these payments are solely based on your and your former spouse’s financial needs and how an experienced Bergen County alimony attorney at McNerney & McAuliffe can help you better understand the family court’s decision-making process.
Are alimony payments determined solely on the financial needs of my former spouse?
The financial needs of your former spouse may be a major contributor to an alimony decision. That is, the New Jersey family court will look at your general financial situation in comparison to that of your former spouse. This may entail them reviewing your and your former spouse’s yearly net income while considering your overall earning capabilities.
The purpose of this is so that they ultimately select which type of alimony is best. The different kinds are as follows:
- Open durational alimony: this is usually awarded if your former spouse is close to retirement and therefore does not have to re-enter the workforce.
- Limited duration alimony: this is usually awarded if your former spouse is capable of re-entering the workforce and just needs some support as they adjust.
- Rehabilitative alimony: this is usually awarded if your former spouse requires training or education to re-enter the workforce and just needs some support as they pursue this.
- Reimbursement alimony: this is usually awarded if your former spouse worked while you were pursuing training or education during your marriage.
However, it must be noted that your and your former spouse’s current financial situation is not the only factor considered.
What factors play a role in an alimony decision?
To reiterate, there are many other factors that are considered by the New Jersey family court when making an alimony decision. They are as follows:
- The age, physical health, and emotional health of you and your former spouse.
- The duration of your and your former spouse’s marriage.
- The lifestyle that you and your former spouse established during your marriage.
- The financial and non-financial contribution that your former spouse made during your marriage.
- The equitable distribution of property that has been assigned to you and your former spouse.
- The childcare obligations (i.e., custody and support) that have been assigned to you and your former spouse.
- The tax treatment and consequences an alimony award may inflict on you and your former spouse.
You must not hesitate to build an argument for your divorce-related terms. As soon as you can, pick up the phone and call a skilled Bergen County family law attorney. Someone at McNerney & McAuliffe will be happy to answer.
