Types of Alimony Awarded during Divorce
Pursuant to New Jersey statutes, there are five (5) types of potential alimony agreements which may be entered into by divorcing couples. Alimony is meant to be a means of support for a spouse who either made sacrifices during a marriage or needs financial help to pay bills and maintain their lifestyle. Whether you are on the delivering or receiving end of alimony payments, these different types of arrangements can have vastly different conditions.
At Jacobs Berger, our alimony attorneys have extensive experience serving divorcing clients in Morris County and all of Northern New Jersey. We view each case we take as an opportunity to help lay down a solid foundation for our clients’ futures. Our firm believes in mitigating the emotional and financial stresses of the divorce and family law legal process while seeking the best outcomes for our clients.
Call our office today for a confidential and comprehensive case assessment regarding your divorce, your alimony, and any other family law matters.
Spousal Support Lawyers Define Open Duration Alimony and Limited Duration Alimony
Open duration alimony, previously known as “permanent alimony”, is essentially an alimony agreement without any set end date. Limited duration alimony is very similar to open duration alimony with the addition of a pre-determined date of termination.
Open Duration Alimony – as per changes to New Jersey alimony statutes in September of 2014, marriages lasting a minimum of 20 years may be eligible for open duration alimony consideration. This legislation is also when permanent alimony was renamed to open duration alimony to eliminate the potential confusion of the misleading use of “permanent”. Open duration alimony agreements may not have a termination date, but they can be modified or ended due to the same reasons as any other alimony modification, including changes in circumstance such as retirement, remarriage, health issues, and many other events which materially change the financial standing of either party.
Limited Duration Alimony – In most ways, limited duration alimony is the same as open duration alimony but structured around a set time period. Limited duration alimony is most frequently considered for marriages which last between six (6) and twenty (20) years. As a general rule, the duration of these agreements will be approximately half the length of the marriage. This figure is just a starting point, and each alimony agreement will be considered individually.
Temporary Alimony Attorneys Seek Amicable Agreements
In addition to open duration and limited alimony agreements, there are three other more specialized forms of alimony which may be paid in New Jersey divorces. While these types of alimony are shorter in duration and more limited in scope, they can make an enormous impact on the financial lives of our clients. Our Randolph alimony attorneys will evaluate your case and see if any of the following alimony arrangements may be appropriate in your situation:
Temporary Alimony – much like temporary child custody or temporary child support, alimony agreements may be reached pendent lite or “during litigation”. This form of alimony may take effect as soon as either party files for divorce, and may be terminated when your divorce process is finalized. Not all divorces involve temporary alimony, but time does not stand still during divorce proceedings, and many individuals require assistance to pay for bills and other financial considerations.
Alimony Attorneys Discuss Other Alimony Arrangements
Rehabilitative Alimony – for marriages lasting between three (3) and six (6) years, rehabilitative alimony will be the most likely form of alimony arrangement. The “rehabilitative” portion of this name stems from the fact that this alimony is meant to give a divorcing spouse the opportunity to build a financial foundation for their future. This often includes funds for career training, pursuing higher education, or even starting a small business.
Reimbursement Alimony – in many marriages, one spouse makes sacrifices in order to benefit the family overall. This may include sacrificing their own career or education goals in order to take care of a family or other considerations. In these cases, the spouse who made such sacrifices may be eligible for reimbursement alimony which are meant to compensate for the aforementioned sacrifices.
Contact our Divorce and Spousal Support Agreement Attorneys Today
The attorneys of Jacobs Berger understand that alimony is a necessary tool for many divorcing couples who are splitting what was once a commingled financial situation. Our legal team is dedicated to keeping it simple, being honest with our clients, and making realistic plans for the future. We take pride in providing dynamic and personalized legal solutions for our divorce clients in Morris County towns and across Northern New Jersey.
Please contact us online or call our Morristown offices by dialing (973) 710-4366 today for a comprehensive and confidential case assessment with one of our qualified and experiences alimony and spousal support attorneys.