You may assume that your and your former spouse’s income is the determining factor for your alimony order in your divorce proceedings. However, you may come to find out that there are other life circumstances that the New Jersey family court will look into. Read on to discover what factors determine this order and how a seasoned Morristown alimony lawyer at Graves Andrews, LLC can help you fight for one that is fair and just.
What factors determine an alimony order in the state of New Jersey?
More often than not, the New Jersey family court will order the spouse who earns a higher annual net income to be the payer of alimony. While there is no established formula for calculating an alimony order, the court typically decides on 20 percent to 25 percent of the net difference between the spouses’ annual net incomes. For example, if the difference in earnings is $50,000, then the court may order the higher-earning spouse to pay $10,000 to $12,500 in alimony per year, or $833.33 to $1,041.66 per month. The purpose of this is so that each spouse may maintain the standard of living that was established during the time of their marriage.
Aside from this calculation, the court has other determining factors; they read as follows:
- The earning capacity and employability that each spouse possesses.
- The investment income that each spouse possesses.
- The personal debts that each spouse carries.
- The property distribution order that has also been established in the divorce proceedings.
- The child custody and child support orders that have also been established in the divorce proceedings.
- The past financial contributions that each spouse made toward the household during their marriage.
- The tax consequences that the alimony order will have on each spouse.
It is worth mentioning that the grounds for your divorce (i.e., marital fault) are not likely to affect the outcome of your alimony. This is unless such marital misconduct equates to economic misconduct (i.e., gambling, committing fraudulent activity, etc).
What type of alimony might be ordered by the New Jersey family court?
In addition to determining the amount of alimony to order, the New Jersey family court must also determine the type of alimony to order. The different types the court may select from are as follows:
- Limited duration alimony only lasts until the receiving spouse becomes financially independent once more.
- Rehabilitative alimony only lasts until the receiving spouse completes their education to earn more meaningful employment.
- Reimbursement alimony only lasts until the receiving spouse is “paid back” for the costs of their schooling, accreditations, business training, or specific career requirements.
It would be best if you did not take any chances when it comes to your alimony order. So please retain the services of a competent Morristown family law attorney from Graves Andrews, LLC as soon as you can.