Alimony, or support paid by one spouse to another upon divorce, is often one of the most contentious issues in a divorce. Four different forms of alimony exist in New Jersey: “open durational” (i.e., without a set end date); “limited duration” (for a specific term of years); “rehabilitative” (to afford a supported spouse time to gain financial independence) and “reimbursement” (to compensate a supported spouse for, by way of example, contributions made to the other party’s education or career).
Unlike child support, there is no established formula or rubric for the calculation of alimony in New Jersey and the courts are instead tasked with analyzing a host of statutory factors including, but not limited to, need and ability to pay, the length of the marriage, age and health of the parties, educational backgrounds and marital standard of living. A number of other factors can come into play as well including, but not limited to, a party’s need for a “savings component” as part of an alimony award, a supporting spouse’s retirement, and a supported spouse’s cohabitation. Accordingly, the determination of alimony in New Jersey is extremely fact-sensitive. No two cases are alike.
At Eveland & Foster, LLC, we frequently work closely with tax, estate, and financial service professionals to assist our clients in determining and protecting their financial needs in the divorce process. Whether you are in need of financial support from your spouse or are concerned about limiting your exposure, we are prepared to advocate for you and protect your interests.