If you are facing a divorce and require alimony, it is important to understand the different types of alimony that are offered in New Jersey. To learn the four primary types of alimony available to financially dependent spouses, continue reading and reach out to our experienced Morristown alimony lawyer.
What are the different types of alimony in New Jersey?
New Jersey does not award alimony that is “permanent”. Alimony is meant to be used as a means of financial support to assist a former spouse until they are able to become financially independent. When determining alimony payments, New Jersey courts will consider the duration of the marriage as well as other factors. The following factors will also be considered when making this decision:
- Both spouses’ age and health
- Both spouses’ yearly salaries or income
- The earning capacity of both spouses
- The standard of living established in the marriage
- Any other factor that the court deems relevant
The four primary types of alimony available to former spouses in New Jersey include the following:
- Open-durational alimony: Spouses who were married for over 20 years will generally be awarded open-durational alimony. This type of alimony calls for regular payments without a predetermined end date. Open-durational alimony can be modified at any time if there is a significant or continuing change in the payor or payee’s financial situation.
- Limited-duration alimony: Limited-duration alimony is generally awarded to spouses who are married for a shorter period of time. This type of alimony payment is essentially an alimony structure with a predetermined end date. The courts will allow one spouse to receive limited-duration alimony to become financially independent, depending on the duration of the marriage and other factors.
- Rehabilitative alimony: Rehabilitative alimony is a short-term alimony arrangement that is designed to give the financially dependent spouse a chance to pay for vocational training or schooling to assist them in reaching financial stability after the divorce.
- Reimbursement alimony: Spouses will generally be awarded reimbursement alimony who continued working and supporting the couple financially while the other spouse pursued an advanced degree or meaningful employment.
If you have any further questions regarding alimony, do not hesitate to reach out to our experienced Morristown family law attorney today.
Contact Our Experienced New Jersey Firm
Graves Andrews, LLC is an experienced Morris County family law & criminal defense law firm serving all of New Jersey. Contact Graves Andrews, LLC to schedule an initial consultation to learn more about our services and how we can assist you. Reach out to our experienced attorneys today to get started.