Divorce is never easy–unfortunately, for many, it can be a financial burden as much as it is an emotional burden. If you are someone going through a divorce, you are most likely wondering what your future is going to look like, especially if you are a financially dependent spouse.
When you and your spouse cannot agree on the terms of your divorce, your divorce will fall into the litigation process. Unfortunately, litigation is often hostile, emotionally-draining, expensive, and time-consuming, sometimes taking months, or even years to finally conclude. What’s more, once the litigation process is over, both spouses are rarely satisfied with the outcome.
When you enter the litigation process, both you and your spouse’s assets are subjected to what is known as “equitable distribution.” Essentially, this means that the courts will consider several factors regarding both you and your spouse’s financial and personal circumstances, and will divide your assets as they see fit.
Financially dependent spouses often fear they will take the brunt of their divorce, as they are left without a means to support themselves in the way they could when married. This is why sometimes, the courts will give more marital assets to the financially dependent spouse, as long as they meet the court’s qualifications.
Courts will consider both you and your spouse’s age, your health, any child custody agreement in place, the number of children living in your household, both spouse’s yearly income, and more. Additionally, courts will absolutely consider the duration of your marriage before deciding who gets what.
For example, if you are the financially dependent spouse in a long-term marriage, there is a very good chance you will be awarded more of the marital estate than your financially independent spouse. This means that with the help of an experienced attorney, you may be able to secure your home.
Additionally, financially dependent spouses should note that their alimony structure may also be dictated, at least in part, by the duration of their marriage. While dependent spouses involved in long-term marriage generally receive longer alimony payment terms, short-term marriages usually only grant dependent spouses short-term spousal support plans. However, each case is different, and if you believe you are entitled to more than the court is willing to give, you must speak with an experienced attorney who is ready to fight for what you need.
Contact our experienced New Jersey 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.