Alimony changes in New Jersey could change divorce | Lane & Lane, LLC
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Alimony changes in New Jersey could change divorce

Divorce can be a difficult process for those involved, but the financial aspect of divorce can be one of the most difficult topics for couples. The financial aspect of divorce can include the division of assets, child support and even alimony. For most of these items, there are clear guidelines as to how they are supposed to be carried out. However, in New Jersey, there is no time limit on when alimony can be paid after a divorce, but one law aims to change this.

According to many New Jersey lawmakers, the current alimony regulations do not set limits on the duration of the payment of alimony. The current regulations also do not allow for changes to the payments if an individual’s financial situation changes. At this time, those in New Jersey are not able to stop paying alimony even when both parties have met their retirement age.

However, if the new bill is signed into state law, it could give judges more freedom to regulate alimony according to the situation. A judge could end the payment if the receiver of the alimony moved in with another partner or the payer became unemployed for a certain period of time. The new bills would get rid of the term "permanent alimony" and would thusly allow for the stoppage of alimony once the payer reached his or her retirement age.

This new bill, if signed into law, could have major changes on divorce in New Jersey. It would not only give judges more power, but it could allow for changes later on as well. Hopefully, if these changes take effect, they will have a positive impact on divorce in New Jersey.

Source: newjerseynewsroom.com, "4 Changes to NJ Alimony Rules", Bob Holt, July 1, 2014

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