high net worth divorce

By far, one of the most frequently cited grounds in divorces is money problems. It is a sensitive topic that does not end with the service of divorce papers. In fact, in cases where one spouse is financially dependent on the other spouse, it may prolong the couple’s money woes. In such cases, the court may order the independent spouse to pay alimony, also known as spousal support, to the dependent spouse during the divorce process and, if circumstances permit it, for a period afterward. For more information on whether or not you may qualify for alimony in New Jersey, please read on, then contact one of our experienced Monmouth County spousal support attorneys today.

Who qualifies for alimony in New Jersey?

If the circumstances warrant it, either spouse may request alimony, regardless of gender or sex. That said, alimony will only be awarded after the court has evaluated the following:

  • The actual need and ability of the spouses to pay
  • The length of the marriage
  • Each spouse’s age, physical and mental health
  • The standard of living during the marriage and the likelihood that both can maintain a reasonably similar lifestyle after the divorce
  • Each spouse’s earning capacities, educational levels, vocational skills and employability
  • The length of time the supported spouse was absent from the job market
  • Both spouses’ parental responsibilities
  • The time and expense necessary for the supported spouse to acquire education/training to find employment, the availability of the training and employment and the opportunity for future assets and income
  • The history of each spouse’s financial and non-financial contributions to the marriage
  • The equitable distribution of marital property during the divorce
  • Each spouse’s income from investment assets
  • Tax consequences of the alimony award to each spouse

What types of alimony are available in New Jersey?

Should the court award spousal support after evaluating the above-listed factors, the dependent spouse may be entitled to the following types of alimony:

  • Pendente lite alimony: While the divorce is pending.
  • Limited duration alimony: Issued until the supported spouse can become self-supporting.
  • Rehabilitative alimony: Issued while the supported spouse acquires job training or education that will lead to financial independence.
  • Reimbursement alimony: Awarded when the now-dependent spouse financially supported the now-independent spouse through an advanced education and expected to benefit from the education. The now-independent spouse must pay the now-dependent spouse back.
  • Permanent alimony: Reserved for long-term marriages where a dependent spouse is unable to become self-supporting. Despite its name, it’s rarely permanent.

Please do not hesitate to reach out to one of our skilled Monmouth County divorce attorneys to schedule your initial consultation if you have any questions about this or any other divorce- or family law-related topic.

CONTACT OUR EXPERIENCED NEW JERSEY FIRM

If you require strong legal representation for matters of divorce and family law in Rumson, Monmouth County, or anywhere in New Jersey, contact The Law Offices of Paone, Zaleski & Murphy to schedule a consultation with one of our experienced attorneys today.