One key misconception surrounding divorce related conversations is the duration of alimony obligations – does it last forever? In the State of New Jersey, laws indicate that the dependent spouse, who relied significantly on the other’s income to maintain their marital standard of living, might be entitled to alimony as part of the divorce settlement.
An article on this by JD Supra provides detailed insight into how this works.
New Jersey law specifies different types of alimony, with the most prevalent being Limited Duration Alimony and Open Durational Alimony (formerly referred to as “permanent alimony”).
- Limited Duration Alimony: This form of alimony is utilized for marrying durations that do not exceed 20 years. The period for which the alimony will be paid is usually decided during the divorce proceedings and primarily depends on factors such as the need of the dependent spouse, the length of the marriage, and the ability of the other spouse to pay.
- Open Durational Alimony: This form of alimony replaces the erstwhile ‘permanent alimony’ and is typically applicable to marriages that have lasted 20 years or more. Unlike limited duration alimony, there is no set period for the termination of open durational alimony. However, it generally ceases when the payor reaches ‘full retirement age’ as defined by Social Security laws, unless there is a reason to set a different age.
The determination and duration of alimony is a complex process that requires careful legal counsel. If you are faced with a divorce proceeding and uncertain about alimony regulations, it would be beneficial to seek legal help.