There are a number of divorce legal issues that can reshape your post-divorce life. Child custody, of course, is a big one, but no other legal issues may affect your financial health more than alimony. Those who are successfully able to seek alimony, the payments they receive from their former spouse, can use them maintain a certain standard of living by securing a new residence and items of personal property, and it can assist them as they train to enter the workforce. Those who are required to pay alimony, on the other hand, can see their financial stability rocked. This is why it is critical for all parties involved to understand the legalities that are applicable to alimony and how to utilize them to their advantage.
While most people who are dealing with alimony are concerned about the monthly payment amount, these individuals should not overlook the term of those payments. Under New Jersey law, alimony may be effectuated in a number of ways. Rehabilitative alimony, for example, is meant to last only as long as it takes for a receiving party to take the steps necessary to achieve an appropriate earning capacity.
Yet, rehabilitative alimony isn’t the only type available to New Jersey residents. Reimbursement alimony, for example, is meant to offset one party’s support of his or her spouse as he or she sought an advanced degree. Also, alimony may last for the length of a marriage, but not necessarily so. There are a number of factors that can contribute to the length of alimony, which we may discuss in a future post.
Alimony is a divorce legal issue with serious ramifications for all parties involved. To avoid being financially taken advantage of, New Jersey resident who are going through a divorce issue may want to meet with a legal professional to ensure they have the best legal arguments available to protect their interests as fully as possible.