When facing a divorce, one of the many questions you may have pertains to the different types of alimony that are available in New Jersey. Continue reading and reach out to our experienced divorce attorney to learn more about the different options you will have regarding alimony.
What are the different types of alimony in New Jersey?
The following are the four primary types of alimony that are available to New Jersey residents who have been dependent on their spouse financially and are entering a divorce:
- Open-durational alimony: Open-duration alimony is primarily used for spouses who have been married for over 20 years. This type of alimony does not have a set end date. However, it is possible to modify the alimony amount based on the following factors: a significant change in circumstance such as remarriage, cohabitation, or receiving/earning a sum of money that eliminates the need for financial support.
- Reimbursement alimony: Reimbursement alimony is generally used when both spouses pool their resources to allow a single party to pursue higher education in the attempt for that individual to achieve a higher earning potential in the future. The spouse who sacrificed their own earning potential or education opportunities may be entitled to reimbursement for personal and financial sacrifices they made toward the former spouses’ education including household expenses, school travel costs, education expenses, and other contributions.
- Rehabilitative alimony: Rehabilitative alimony is typically used when a spouse requires additional schooling or vocational training to become financially independent. A common example of couples utilizing rehabilitative alimony includes when if one spouse left their job to care for their children, they may have lost the necessary skills to return to their employment successfully. Rehabilitation alimony will be utilized to allow that individual to undergo training to re-enter the workplace.
- Limited-duration alimony: This type of alimony will last until a set date or self-sufficiency has been reached. Limited-duration alimony is primarily used for spouses who have been married for a short period of time.
What will the courts consider when deciding how much alimony I will receive?
New Jersey courts will consider the following factors when determining the amount of alimony that will be received in a divorce:
- The duration of your marriage
- You and your spouse’s age and health
- If you have any children
- Your child custody agreement
- The standard of living established in your marriage.
Contact our experienced Bergen County firm
At Townsend, Tomaio & Newmark, our attorneys have extensive experience helping clients to understand and protect their legal rights before, during, and after the divorce process in towns across New Jersey and Bergen County, including Hackensack, Ridgewood, Paramus, Teaneck, and Fort Lee. To speak with our team of divorce lawyers today in a free and confidential consultation regarding your concerns about your divorce, please contact us online, or through our Hackensack, NJ office at (201) 397-1750.