Hackensack Alimony Payment Process
When couples divorce and one spouse was financially dependent on the other, alimony is often a part of the divorce decree. Alimony is meant to ensure that one spouse does not become impoverished due to the divorce and has the means to create a new life for themselves.
The spouse receiving alimony decides on the Hackensack alimony payment process they prefer. Whether you are paying alimony or receiving it, a family law attorney at Moskowitz Law Group could explain the methods available.
Alimony Fundamentals
N.J.S.A. § 2A:34-23 governs alimony, which is not mandatory in New Jersey. A spouse seeking support must justify their request by showing one or more of the following: a) they sacrificed educational or career opportunities to raise a family or support their spouse’s career or b) they require payment to maintain a standard of living as close to the marital lifestyle as possible. Alimony is often meant to allow the receiving spouse time to become self-supporting at the level they might have been had they prioritized their career.
Alimony is almost always awarded for a set number of years unless the marriage is longer than a 20 year duration. The divorce decree often directs the payor spouse to buy a life insurance policy benefiting their former spouse or establish another form of security to ensure the recipient spouse receives the money even if the payor spouse dies before the end of the alimony term.
Two Ways to Pay Periodic Alimony
In most cases, alimony in Hackensack is paid periodically for a set term. Payments could be monthly, quarterly, or on another schedule agreeable to the parties. There are two methods of payment, and the receiving spouse may choose the method they prefer.
Payments Through the Courts
Unless the parties agree otherwise, the Probation Department receives the alimony payments and distributes them to the recipient. The paying spouse can arrange a direct deduction from their wages to the Probation Department. If necessary, the receiving spouse could get an order garnishing the paying spouse’s wages to ensure they receive their payments. A family law attorney could help a spouse request garnishment.
The advantage of payments through the Court is that the Probation Department will have a record of all payments and disbursements. These records can be essential if there is a dispute about whether a payment was made. However, many people prefer not to involve a government agency in this matter.
Direct Payments Between the Spouses
Spouses can agree that the paying spouse will pay alimony directly to the receiving spouse. Typically, the paying spouse would send the funds via direct deposit to the other spouse’s bank account, but payments by check are acceptable. Cash payments are not a good idea since there would be no record of the payments.
The payment method for alimony is usually included in the divorce decree. When spouses choose direct payments, the decree usually provides that if the payor misses a payment or is late, future payments must be made through the Court.
Some Spouses Choose a Lump Sum Payment
Most alimony is paid periodically for a set term. In some cases, however, spouses might decide a lump sum payment makes more sense for them. A family law attorney with Moskowitz Law Group can explain the advantages and disadvantages of a lump sum arrangement in a specific case. A “lump sum payment” could be in the form of cash or it can be done by giving the spouse that would normally be entitled to support more of the marital property (such as a house of a bank account) in lieu of a periodic payment.
Lump sum alimony is not true alimony. It is more like a buyout, where the spouse who could receive alimony can opt to receive a substantial payment instead. It allows the receiving spouse more freedom to set up their post-divorce life as they choose and allows the paying spouse to settle financial issues with their former spouse permanently.
Lump sum alimony cannot be modified, and the paying spouse does not need to buy a life insurance policy to guarantee payment in case of their death.
Discuss Alimony Payment Options with a Hackensack Attorney
Alimony and how it will be paid can be part of divorce settlement negotiations. Discuss the decision to seek spousal support and how it should be paid with your family law attorney.
The Hackensack alimony payment process has several variations. Be sure you choose the one that is right for you. Contact Moskowitz Law Group today.
