The past four years have brought major changes to the New Jersey Alimony Laws. The interpretation of the law and how it is applied and argued in your case is crucial and can, and probably will affect your financial future. Many individuals may not realize however, that there are actually several types of alimony as outlined below:
Limited Duration Alimony:
This involves those situations in which alimony payments are made for a fixed period of time that cannot exceed the length of the marriage. Limited Duration Alimony in New Jersey is reserved for marriages that lasted less than 20 years. The amount of the alimony payments may be modified if a change in circumstances occurs. However, the terms are typically un-modifiable absent unusual circumstances.
Reimbursement alimony is awarded when one spouse provides financial support to the other spouse thereby enabling that spouse to pursue a higher level of education. Reimbursement alimony may not be modified.
Rehabilitative alimony allows a financially dependent former spouse to receive alimony payments while undergoing training or education that will allow him or her to become more competitive in the job market. This type of alimony may include paying the cost of a training or educational program such as a new degree. It may be awarded in conjunction with other types of alimony.
Open Durational Alimony
Open duration alimony is awarded when the length of the marriage was twenty years or more and a former spouse has an unequal present or future earning capacity in comparison to the other spouse. Alimony payments may be modified if a substantial change in circumstances occurs. Examples of changes in circumstance include: remarriage, cohabitation, disability and retirement.
It is important to understand the different types of alimony and how they may or may not apply in your particular situation. For this reason, it is very important that you contact a family law attorney with experience handling cases involving each of these types of alimony.
Cherry Hill Divorce Lawyers at the Law Offices of Richard C. Klein, P.A. Can Help with Your Alimony Agreement
At the Law Offices of Richard C. Klein, we provide powerful advocacy and vast experience to protect your rights, and attain an alimony agreement that is fair and manageable. To learn more, complete our online contact form, or call (856) 544-9155. We are located in Marlton, New Jersey, and we work with clients from Mount Laurel, Moorestown, Cherry Hill, Voorhees, Medford, Haddonfield, Maple Shade, Marlton and throughout the state of New Jersey.