Our lives can change drastically in the blink of an eye. Losing a job or winning the lottery can mean a major shift in your financial status and your alimony modifications should reflect these changes. Read on to learn more about alimony modifications in New Jersey.
How is alimony determined in New Jersey?
When making a decision about the amount and duration of alimony, the court will examine some of the following factors:
- Income and property
- Child support obligations
- Child custody arrangements
- The ages of both parties
- The health of both parties
- Each party’s earning capacity
- The dependent spouse’s need for education or training
- The dependent spouse’s deferred life goals
- If there are any tax consequences
- Caring for family members
What does the court consider when awarding a modification?
One of the most common reasons to modify your alimony arrangement is unemployment. In order to obtain a medication, you will have to prove to the court that your financial situation has changed drastically and for the foreseeable future. As a result, the court will consider some of the following questions when making a decision:
- Has the individual been out of work for at least 90 days prior to seeking the alimony modification?
- What was the reason for the loss of employment?
- What has the individual done in the meantime to find a replacement position or alternative means of income?
- Is the individual able to physically and mentally obtain and retain employment?
- Did the individual receive and severance payment from their previous employer?
What are the consequences of failing to pay alimony?
If you stop paying alimony without permission from the court, you can face serious legal trouble, including:
- Wage garnishment
- Property liens
- Driver’s license revocation
- Imprisonment
If you have any questions or concerns about alimony modifications in New Jersey, contact our firm to speak with an attorney today.
Contact our Firm
We understand that those getting a divorce most likely have several questions regarding the weeks and months to come. Paris P. Eliades Law Firm, LLC is honored to serve the people of New Jersey, including Sparta, Sussex County, Morris County, Passaic County, and Bergen County with the quality legal services they deserve. If you are getting a divorce or have any other questions regarding divorce-related matters, please do not hesitate to contact our firm for a consultation today.
