How Is Alimony Decided In A Divorce In New Jersey?
As part of the divorce, alimony will be set based upon the income of the Parties and the length of the marriage. There is no mathematical formula that determines alimony. Alimony is based on fourteen different factors that the Court must look at. They include the following:
- The actual need and ability of the Parties to pay;
- The duration of the marriage;
- The age, physical and emotional health of the Parties;
- The standard of living established and the likelihood that each party can maintain a reasonably comparable standard of living with neither party having a greater entitlement to that standard than the other;
- The earning capabilities, educational level, vocational skills and employability of the parties;
- The length of absence from the job market of the party seeking alimony;
- The parental responsibilities for the Child(ren);
- The time and expense necessary to acquire sufficient education/training to enable the party seeking alimony to find appropriate employment, the availability of training/employment and the opportunity for future acquisition of capital assets and income.
- The history of financial and non-financial contribution to the marriage by each party, including contributions to the care and education of the child(ren) and interruption of personal careers or educational opportunities.
- The equitable distribution ordered and any payouts of equitable distribution, directly or indirectly , out of current income, to the extent this consideration is reasonable, just and fair;
- The income available to each party through investment of assets held by that Party;
- The tax treatment to both parties of the alimony award, including whether all or a part of it is non-taxable;
- The nature, amount and the length of pendente lite support, if any;
- Other factors that the Court may deem relevant.
In addition, under the new IRS Regulations, alimony is not tax deductible by the payor and is not included in the income of the payee.
The new alimony statutes provide that for a marriage less than twenty(20) years in duration, the maximum time for alimony shall not exceed the length of the marriage.
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