FAQ: What Is Open Ended Alimony?

What are the three types of alimony?

Here are the different types of alimony.

  • Separation Alimony. This type of alimony is usually ordered to be paid if a couple is separated and one is unable to be self-sufficient during the separation.
  • Rehabilitative Alimony.
  • Permanent Alimony.
  • Reimbursement Alimony.
  • Lump-Sum Alimony.

What is the most common type of alimony?

The most common form of alimony is durational alimony. This is alimony that is set for a certain number of years, but it cannot exceed the length of the marriage. This is where the court will usually “split the baby” and make durational alimony half the length of the marriage.

What is open durational alimony in NJ?

Open durational alimony. Like permanent alimony, open durational alimony has no predetermined fixed ending date; unlike permanent alimony, however, unless exceptional circumstances exist, a court can order open durational alimony only after a marriage of at least 20 years.

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What happens when spousal support ends?

Yes. The obligation to pay future alimony ends when the supported spouse remarries. The paying spouse doesn’t have to return to court—payments may simply stop as of the date of the marriage. The payor is entitled to reimbursement for all maintenance paid from that date forward.

Is spousal support and alimony the same?

Alimony and spousal support are the same thing. Alimony is a more dated and archaic term that means the ex-husband or ex-wife maintains the lifestyle of their former spouse after marriage for a certain amount of time. In California, it is most often referred to by the courts as spousal support.

Can you claim alimony on taxes?

If you paid amounts that are considered taxable alimony or separate maintenance, you may deduct from income the amount of alimony or separate maintenance you paid whether or not you itemize your deductions.

How do you figure out alimony payments?

Common methods for calculating spousal support typically take up to 40% of the paying spouse’s net income, which is calculated after child support. 50% of the recipient spouse’s net income is then subtracted from the total if he or she is working.

Is alimony a fixed amount?

Lump-sum alimony is a fixed amount that can’t be modified later and is paid up-front, so the recipient spouse doesn’t need to wait for a monthly check. The court will typically determine what the total monthly future payments would be after the divorce, and order a lump-sum payment equal to that amount.

Should alimony take lump sum?

One of the pros of lump sum alimony is avoiding a drawn-out obligation to the other spouse. The paying spouse can complete his or her financial obligation immediately and avoid monthly communications with the recipient. Paying alimony as a lump sum could also prevent the order from changing in the future.

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Is alimony for life in NJ?

In the past, spouses could receive permanent alimony in New Jersey. This was support paid from one spouse to another for a lifetime. However, this was replaced by former New Jersey Governor in 2014. Under this amendment, there is no end to the alimony payments unless there is a reason to terminate.

How long is alimony in NJ?

In terms of how long alimony should be paid, for marriages of up to 10 years or so, people are often agreeing to 1/2 of the length of the marriage (but again, if the matter actually goes to a trial, judges are bound by the law, which says that for marriages of less than 20 years, normally a judge can order alimony for

Does alimony end at retirement in NJ?

New Jersey’s alimony law, N.J.S.A. 2A:34-23, indicates that alimony may be modified or terminated upon the prospective or actual retirement of the supporting spouse.

Can my wife take everything in a divorce?

She can’t take everything from you, but only her share of community property that is acquired during marriage. Your separate property won’t go to her unless in some specific cases like family businesses.

Is alimony for the rest of your life?

Permanent alimony does not necessarily mean that the payment will last for the rest of one’s life, but until the occurrence of a terminating factor such as: cohabitation; remarriage; or death of the payee spouse. There is no set time for rehabilitative alimony to end and is determined based on the individual situation.

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Can my ex wife go after my new spouse’s income?

In California, all parents must care for their children financially, whether they’re married or divorced. In certain situations, however, the new spouse’s income may become part of community property shared with your ex-spouse and be considered in the child support calculation.

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