Which Spouse Pays Alimony?By Moskowitz Law Group, LLC |
There are many financial factors that people going through a divorce must consider such as the division of assets and child support agreements. One of the more complicated financial issues to address is if alimony (also referred to as spousal support) should be arranged from one spouse to the other. Because of the number of factors that may affect if and how much alimony should be included in a fair agreement, many individuals may have questions such as which spouse pays alimony, how long should alimony be paid, and what amount is fair.
What is Alimony and Which Spouse Pays It?
The term alimony refers to payments made by one spouse to the other in order to ensure that both parties are able to maintain a reasonably comparable standard of living to that which they shared during the marriage. Alimony is not determined by gender or who initiated the divorce, but rather by the financial situation of each spouse going through the divorce process. While alimony is decided on a case by case basis, it is generally paid by the spouse earning a higher income and continually disbursed to the lower-income spouse.
How is Alimony Calculated in New Jersey?
In New Jersey, there is no set calculation to determine alimony payments. Instead, there are several key factors that family law attorneys and courts examine to determine a fair settlement. Some factors that are commonly examined are the standard of living during the marriage, the income of each spouse, and whether child support is being issued in the divorce. Alimony may also differ depending on the level of education, career sacrifices made, and vocational skills of each individual.
How Long will Alimony be Paid?
Similar to the determination of what amount of alimony is fair, there is no singularly definitive measure to determine how long alimony should be paid. One important factor that should be considered when determining the length of a spousal support agreement must be paid is the length of the marriage. Individuals who have been married for longer than 20 years may be entitled to open duration alimony, which has no definitive endpoint. For individuals married less than 20 years, alimony agreements typically do not exceed the length of the marriage.
Contact an Experienced Family Law Attorney Today
Navigating financial matters such as alimony during a divorce can add additional stress to an already emotionally taxing time. An experienced family law attorney could guide you through how your specific circumstances may affect the amount of alimony you may need to pay or be able to receive. To schedule a consultation and discuss your case, contact the seasoned alimony attorneys at Moskowitz Law Group today.