When facing a divorce, it is important that you understand the different types of alimony available to individuals who have been dependent on their spouses. Continue reading to discover the various types of alimony available in New Jersey.
What are the different types of alimony in New Jersey?
There are four primary types of alimony in New Jersey. The following are the different types of alimony that are available to individuals who have been dependent on their spouse financially and are now facing a divorce:
- Open-durational alimony: Open-durational alimony is typically used for spouses who have been married for a longer period of time, generally over 20 years. This type of alimony does not have a set end date. However, it is possible to modify the alimony amount based on a significant change in circumstances including the following:
- Remarriage, cohabitation, or receiving/earning a sum of money that eliminates the need for financial support.
- Limited-duration alimony: Limited-duration alimony is typically used for spouses who have been married for a short period of time. This alimony will last until a set date or self-sufficiency has been reached.
- Rehabilitative alimony: Rehabilitative alimony is primarily used when a spouse requires additional schooling or vocational training to become financially independent.
- Example of rehabilitative alimony: if one spouse left their job to care for their children, they may have lost the necessary skills to make a return to their employment. Rehabilitation alimony will allow that individual to undergo the proper training to re-enter the workforce.
- Reimbursement alimony: Reimbursement alimony is primarily used when both spouses pool their resources to allow a single party to pursue higher education to achieve a higher earning potential in the future.
- The spouse who sacrificed their own earning potential or education opportunities may be entitled to reimbursement. This reimbursement will cover their personal and financial sacrifices throughout their marriage. The compensation they receive for reimbursement alimony will be based on the financial contributions toward the former spouses’ education including the following:
- Household expenses, school travel costs, education expenses, and other contributions.
- The spouse who sacrificed their own earning potential or education opportunities may be entitled to reimbursement. This reimbursement will cover their personal and financial sacrifices throughout their marriage. The compensation they receive for reimbursement alimony will be based on the financial contributions toward the former spouses’ education including the following:
What will the courts consider when deciding how much alimony I will receive?
New Jersey courts will consider the following factors when determining alimony:
- The duration of your marriage
- You and your spouse’s age and health
- If you have any children
- What your child custody agreement is
- The standard of living established in your marriage
If you have any additional questions, reach out to our experienced New Jersey divorce attorney today.
Contact our experienced New Jersey firm
If you require strong legal representation for matters related to divorce or family law, Haber Silver Russoniello & Dunn is here to help. We proudly represent clients in Morris County and throughout the state of New Jersey. Contact our firm today to schedule a consultation.
