A divorce will lead to significant financial changes in multiple areas of your life. You understand that in many ways, your security and stability are on the line, and this is why it is important to secure divorce terms that will allow you to feel confident about your future. This may include financial support from your former spouse in the form of alimony payments.
Alimony is financial support paid to the lesser-earning spouse from the higher-earning spouse. The intent of these payments is to address any financial inequity brought about by the divorce. The amount of spousal support you could receive, as well as the amount of time you could receive these payments, is contingent on various factors. It is in your interests to know how much you should expect and how you can fight for the amount you need and deserve.
The factors that affect payments
The amount of spousal support one could receive depends on factors specific to the individual situation, including your financial circumstances. When deciding on the amount of spousal support you should receive after your divorce, a New Jersey family court will look at the following factors:
- Income amount earned by the recipient and the paying spouse
- Other financial obligations owed by the paying spouse
- The amount of time it would take you to become financially self-sufficient
- How long the marriage lasted
- The lifestyle enjoyed by both spouses over the course of the marriage
- The ability of the paying spouse to make payments and still support himself or herself
The court will make a decision on spousal support, including whether you should receive payments and how much they should be. However, you and your soon-to-be-former partner have the right to negotiate this matter out of court by coming to a reasonable agreement that is satisfactory to both parties.
Your best future
Whether it is in the courtroom or around the negotiating table, you have the right to fight for your best possible future. This may include receiving financial support from your former spouse. Before you agree to terms or make any decisions that would impact your future, you may want to learn as much as possible about your rights and options. With an appropriate amount of spousal support, your divorce does not have to lead to financial distress.