We’ve eliminated the concept of permanent alimony. In its place, the legislator has substituted the phrase “Open durational alimony”.
You can never receive alimony greater than the length of your marriage, except in exceptional circumstances. If you’re married 10 years, you would typically only receive alimony up to 10 years.
The law now provides a rebuttable presumption that at age 67, you can retire. What does that mean? That means that your spouse who’s receiving alimony can contest it, but you get the presumption that you’re permitted to retire.
This new law proves that in certain industries, you should be able to retire based upon what that industry contemplates. You may retire at an earlier age because there are natural things that happen to our bodies.
After a divorce, life continues to change. Career shifts, health issues, remarriage, and retirement, among other things, can all dramatically affect an individual’s financial situation. An alimony order that once made sense may become unfair or impossible to maintain. New Jersey allows a spousal support order to be modified under… Read More
When you consider property distribution during your divorce, you are likely focused on assets like your home, bank accounts, and vehicles. An often overlooked, but important consideration, is how your retirement accounts will be split. Your spouse may be awarded part of your retirement benefits during your divorce, depending on… Read More
Divorce is often a messy and contentious process. If you’re lucky, you and your spouse will be able to separate respectfully. However, not every divorce is amicable. If you find yourself trapped in constant disputes and volatile communications over finances, child custody, or even day-to-day conversations, you may be in… Read More
A divorce decree is the legal document that officially ends a marriage. It also provides guidance for how important issues will be handled once the couple is officially divorced. However, the terms created at the time of the divorce may not be relevant or fair in the future. Depending on… Read More
