Most couples going through a divorce will need to resolve issues such as the division of marital assets, child support, and child custody, and alimony. Alimony is a type of financial support from one former spouse to another which can be used for a multitude of reasons. Alimony considerations also have the dubious honor of being the most “free-form” of all of primary issues of many divorces. In other words, while child support is generally calculated using a state-provided formula and equitable distribution laws are very clear about what is considered marital property, alimony laws are more open to interpretation. For this and many other reasons, it is essential that individuals whose divorce contains the possibility of alimony should work with a qualified divorce attorney.
Today, the alimony attorneys of Townsend, Tomaio & Newmark will be reviewing the many complications of New Jersey alimony laws, discuss how alimony terms are reached, and ultimately why it is a great idea to secure independent legal counsel before, during, and after divorce.
Fort Lee, NJ Alimony Lawyers
Alimony and spousal support arrangements can take many forms. In fact, our Fort Lee alimony lawyers help clients reach one of no less than five (5) types of alimony agreements in New Jersey. Most individuals going through a divorce consider alimony to be a singular concept, but in reality there are many different ways in which alimony can be implemented to support former spouses both during and after the conclusion of your divorce, including:
- Open duration alimony – often referred to as “permanent alimony”, this arrangement has no set end-date and is reserved for marriages lasting 20 or more years
- Limited duration alimony – simply put, limited duration alimony is open duration alimony with a pre-defined termination date
- Rehabilitative alimony – this type of support arrangement is aimed at allowing a spouse to train him or herself to re-enter the workforce and become financially independent
- Reimbursement alimony – when spouses make financial and personal sacrifices during a marriage, they may be entitled to reimbursement alimony
- Temporary alimony – alimony agreements during divorce which terminate when the divorce becomes final
Calculating Alimony in Bergen County
As our Bergen County alimony attorneys mentioned in the introduction, alimony calculations are far less well-defined as other areas of family law. This is partially due to the nearly infinitely different financial and personal circumstances of each family going through a divorce. With the help of a qualified divorce attorney, it is possible to draft an enforceable alimony agreement outside of court. However, to sign a reasonable and tenable agreement, it is also important to understand the litany of factors which may determine how much, if any, alimony is owed within your divorce. While there are no hard and fast rules, judges and mediators will often consider factors including but not limited to:
- Length of the marriage
- Parental responsibilities and financial obligations therein
- Financial situation of each spouse
- Employability and career status of each spouse
- Health and age of each spouse
- Career, financial, or personal sacrifices made by either spouse during a marriage
Alimony have the potential to include high dollar amounts over multiple years or even decades. When so much is on the line, working with an alimony attorney to protect your legal and financial rights is a must.
Looking for an Alimony Attorney? Contact our Hackensack Family Law Attorneys Today
The alimony attorneys of Townsend, Tomaio & Newmark have decades of focused legal experience serving families in Bergen County towns such as Paramus, Teaneck, Hackensack, Ridgewood, Fort Lee, and all of Northern New Jersey. Our firm practices exclusively family law, which allows our diverse team of attorneys to focus on the legal issues which directly impact our clients and their families. Some firms “specialize” in many areas of law, but lack true experience in any one area. All of our partners have been certified as Matrimonial Law Attorneys by the New Jersey Supreme Court, a distinction granted to only two (2) percent of lawyers in the state.