After a couple has gone through a separation or divorce, one party may be responsible for paying an amount of money to an ex on a regular basis. Spousal support is not a given, and generally a New Jersey judge will have to decide if one spouse will be required to make payments to another. Although, there is a trend to move away from ordering alimony, awards are still made when the couple divorcing or separating has been married for a long period and one person earned much more that the other or stopped working to take care of the children or home.
Divorce is a complex, intricate matter which may be very confusing to those involved. Divorce terminology appears familiar, as it is often read about and heard in modern society. When one is in the midst of a divorce, though, confusion may soon set in. Terms like spousal support, alimony, child support, custody, joint custody and many more are freely thrown around, but not always clarified.
When a marriage ends, each party is often concerned about how to move forward financially. Even if both parties are working, that does not mean that their salaries are equal and that each of them will have the same chance at a secure financial future. This is why New Jersey law provides for spousal support to be awarded under certain circumstances.
If you are planning to get married, or are already married, you may be considering if a marital agreement is right for you. Marital agreements are put into place in order to protect property that you acquire before or during the course of your marriage. Such agreements are especially important in states that follow the equitable division of property, such as New Jersey.
Alimony tends to be a hotly-contested topic during divorce proceedings. Whether one party wants larger monthly payments or another believes that he or she should not have to make the payments in the first place, there is usually plenty to talk about. However, before drawing any hard lines in the sand, couples in New Jersey should be certain that they understand what spousal support is, and perhaps just as important, what it is not.
Spousal support can be a huge part of your divorce proceedings, whether you're going to give or receive payments. It's important to know what things are going to be considered, including the following:
New Jersey's Supreme Court recently agreed to hear a case questioning whether or not an ex spouse's cohabitation after a divorce could result in the loss of alimony payments. Ultimately, the court decided that in this case, cohabitation could lead to a loss of alimony.
Spousal support can be a huge part of your divorce proceedings, whether you're going to give or receive payments. It's important to know what things will be considered, including the following:
Getting a divorce is never easy. Couples in this situation are ending more than just a marriage; they are also ending a financial partnership. This partnership looks different in every relationship. In some cases, both partners were able to pursue their professional aspirations to the fullest and are now making fairly equal salaries. More commonly, one partner has given up a great deal in order to support the other's professional development. In these cases, alimony, also known as spousal support, may be available.
If you ask most people who have gone through divorce proceedings before, they will tell you that the process can be incredibly expensive. In some cases, a spouse may be so strapped for cash after dissolving their marriage that they need to file for bankruptcy in order to resolve their debt issues.