21 Nov How Spousal Support Is Calculated In New Jersey
In this article, you can discover…
- How the length of a marriage impacts spousal support.
- The role of earning capacity on support payments.
- How cohabitation with a new partner can affect spousal support.
How Does The Length Of The Marriage Affect Spousal Support?
New Jersey law states that a party who is receiving alimony can receive alimony for as many years or months as the marriage endured. However, if the marriage lasted 20 years or more, durational alimony laws state that the spouse receiving alimony will continue to receive these payments until they reach Social Security retirement age, which for many adults is now 68 or 69 years of age.
Amounts and duration, however, can be negotiated to take into account each party’s income, financial obligations, circumstances, and personal needs. Each case is different, and a knowledgeable attorney can help a parting couple iron out agreements that are reasonable and fair to both parties.
What Role Does The Earning Capacity Of Each Spouse Play?
The earning capacity of each spouse is one of the key factors examined when determining alimony payments. For example, a woman who is trained as a registered nurse and who gave up her career to raise children will be regarded as having the same earning capacity as a registered nurse, even though she may not have worked for years.
Some allowances can be made for spouses to re-enter the workplace, receive new training, or get their credentials updated, providing higher alimony payments until retraining is completed. New Jersey law expects everyone to work to their ability, training level, and earning capacity, and alimony law will look at what a person is capable of earning rather than whether or not they currently work.
How Are The Standard Of Living And Financial Needs Considered In New Jersey?
New Jersey law seeks to make the division and distribution of assets as equitable as possible, aiming to help each party to live at or near the standard that they enjoyed during the marriage. This standard factors in vacations, expenses, spending habits, and the earning capacity of each party.
If one party has not been working up until that point, they will be expected to work and earn based on their education level, training, and experience. This anticipated income will help contribute to their post-divorce standard of living and will also be used to calculate alimony payments that are fair and reasonable.
Attorney Jeffrey Bloom is a hard-working, veteran divorce lawyer serving New Jersey. For over 35 years, he’s helped clients just like you navigate spousal support, negotiate for fair amounts, and protect their interests during a divorce.
Have questions, or in need of sound legal guidance? Reach out to The Law Offices Of Jeffrey M. Bloom at (855) 208-3650 for an initial consultation today.
How Does Cohabitation Affect Spousal Support Calculations In New Jersey?
Alimony is designed to help a person maintain a certain lifestyle and be supported after a divorce. Moving in with a new partner or having them move in with you can significantly impact your finances in light of the new partner’s earnings.
Shared bank accounts, shared utility bills, changes of address, acknowledgment of the relationship by family and friends, and social media posts can all be used to determine cohabitation.
In fairness to the other party, if you are discovered to be cohabitating, the alimony payments you receive are likely to be reduced or eliminated, depending on your new partner’s earning capacity. Likewise, if your former spouse is cohabitating, you can take legal steps to reduce alimony payments in light of this new development.
Can Spousal Support Be Adjusted Based On Future Changes In My Income?
Because the goal of alimony is to continue the standard of living enjoyed during the duration of the marriage, one spouse’s post-divorce earnings dramatically increasing does not mean that the other spouse is automatically entitled to more alimony.
Exceptions to this include increases in child support, which may be requested to allow children to benefit from the good fortune or wealth of the other parent.
Generally, alimony payments are set in stone during divorce negotiations, and a good attorney will ensure that alimony rates can not be changed due to job loss, disability, or various other reasons. This helps protect both parties and keeps the parameters of the agreement fair, predictable, and just.
Still Have Questions? Ready To Get Started? For more information on How Spousal Support Is Calculated In New Jersey, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (855) 208-3650 today.
