When alimony agreements are reached, the financial needs of the receiving spouse are going to be an important consideration. However, this is not the only thing that has to be discussed when determining what kind of agreement would be fair to both spouses. There are a few more things that need to be weighed before the court figures out exactly who should get how much alimony and for how long. Whether you are the spouse paying or the spouse receiving alimony, our Sparta, Sussex County NJ spousal support attorneys are ready to help you fight for the most favorable outcome.
What Financial Factors Can Help Determine Alimony Payments in New Jersey?
The court can look at a wide range of financial factors when figuring out what kind of alimony agreement should be reached. Things that might be considered include:
- The yearly salaries of each spouse
- Whether a spouse has alternate sources of income
- The earning potential of each spouse
- The standard of living established during the marriage
- The tax ramifications of any alimony that is awarded
All of these things can give the court a better view of each spouse’s financial needs and help in the crafting of an alimony agreement.
What Else Can Be Considered Outside of a Spouse’s Financial Needs?
The financial needs and situation of each spouse are important, but there are other things that can help the court rule more accurately on alimony needs. It could consider factors like:
- The length of the marriage
- The training or education a spouse needs to become self-sufficient
- The childcare responsibilities of each spouse
- The age and health of both spouses
- Whether one spouse worked while another pursued an education
A marriage is not all about financial contributions. So you could have a case in which a spouse gets more alimony because their non-economic additions to the marriage were so valuable.
When Can an Alimony Agreement Change?
An alimony agreement can be changed when a spouse’s financial needs change. In some cases, the paying spouse can petition the court and say that their financial situation has changed. This is affecting their ability to make their payments and they want the agreement to be changed as a result.
The alimony agreement can also change when the receiving spouse remarries. In most cases, this ends the paying spouse’s obligation because now, in the eyes of the court, their former spouse is now having their financial needs met by a new partner.
Talk to Our Lawyers
If you want to be sure that you are getting the most favorable alimony and divorce agreement, you need experienced attorneys on your side. That is why you should contact Paris P. Eliades Law Firm, LLC and set up a consultation with our team. We would be happy to tell you more about how we can be of assistance.