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Alimony
The law offices of Stacey D. Kerr, located in Toms River, New Jersey, serves clients in all divorce matters involving alimony and equitable distribution in Ocean County. Alimony In the State of New Jersey there are currently four types of alimony:
The statute provides that a person may receive a combination of different types of alimony. The Court will look at the following factors in determining the type of alimony awarded, the amount of alimony awarded, and the duration of the alimony awarded:
Although these are the factors listed by Statute, the four most significant factors that a Court takes into account are:
The most interesting of these four factors currently is "the standard of living established in the marriage". Currently there are no decisions in the State of New Jersey that define what is meant by "the standard of living established in the marriage". Factors that the Court normally looks at in determining the standard of living during the marriage are:
In order to determine what the standard of living was during the marriage, the simplest way is to have all of the expenditures of the marriage put into the computer in a financial program. We use Quicken due to its simplicity and ease that the reports can be generated showing various components of the standard of living. In preparation for divorce, it is suggested that you obtain the tax returns from the inception of the marriage to date (or as many as are easily available) and bank statements over the last five (5) years of the marriage (including deposit slips and cancelled checks). Although many of the Courts are suggesting that income averaging is a method to determine standard of living in a long term marriage that will not work especially when there has been a significant rise in the income earning of the parties. Permanent alimony is exactly what it is called. It is alimony that is paid from the date of divorce until the death of either party or the remarriage of the receiving spouse (there are always other factors for the award of permanent alimony that depend on the particular case). Limited duration alimony is similar to permanent alimony, however, it has a specific term. Usually duration alimony is not modified except in unusual cases. Limited duration alimony can continue to the end of the term notwithstanding a remarriage of the receiving spouse depending on the award. Rehabilitative alimony is a short term award of alimony to enable the former spouse to contemplate the preparation necessary for economic self-sufficiency and ceases when the dependant spouse is in a position of self support. Rehabilitative alimony is appropriate when one spouse gave up or postponed their education to support the household and requires a lump sum or a short term award to achieve economic self-sufficiency. Rehabilitative alimony is not appropriate where the supported spouse is unable to return to the job market or has already attained economic self-sufficiency. If you have any questions or concerns regarding alimony, please contact us today for a consultation. Stacey D. Kerr The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation. Copyright © 2008 by Stacey D. Kerr. All rights reserved. You may reproduce materials available at this site for your own personal use and for non-commercial distribution. All copies must include this copyright statement. |