Types of Alimony
If you are starting out a divorce, you may be feeling overwhelmed. Knowing the types of alimony may ease your mind. Here is what you need to know.
Types of Alimony | Limited Duration Alimony
Limited duration alimony is temporary spousal support in which payments are made for a fixed amount of time. In New Jersey, the length of limited duration alimony cannot exceed the length of the marriage. This type of alimony usually applies to marriages of less than 20 years in which the spouse receiving payments is likely to become self-sufficient at some point in the future.
The amount of alimony paid during this fixed time can be subject to change. However, the length of time itself cannot be modified once it has been appointed.
Types of Alimony | Open Duration Alimony
Formerly known as permanent alimony, open duration alimony applies to marriages over 20 years in which there is a relatively large disparity between incomes after divorce. For example, if one spouse was a homemaker or gave up career opportunities in order to support the other, they will likely never be able to reach the same standard of living they had during marriage. When this type of alimony is awarded, there is no fixed end date. However, payments may be modified if circumstances such as retirement or remarriage occur.
Types of Alimony | Rehabilitative Alimony
Rehabilitative alimony is a series of payments made by one spouse so that the other can become self-sufficient. For instance, if one spouse wishes to pursue a degree or some form of vocational training after divorce in order to become fully independent, then the court may order the other spouse to pay alimony to support this goal. Rehabilitative alimony is awarded for a set timeframe based on the receiving spouse’s plan to become self-sufficient. This can be issued alongside limited duration or open duration alimony.
Types of Alimony | Reimbursement Alimony
Reimbursement alimony is awarded when one spouse has provided financial support to further the other’s education, such as medical or law school, but is unable to share in the earnings generated from that higher education because of the divorce. If both spouses contributed to an advanced degree during marriage, then New Jersey law stipulates that both spouses are entitled to the benefits. Reimbursement alimony can be awarded along with other types of alimony and is not subject for modification.
If you want to know more about the types of alimony, please call our Parsippany divorce attorneys today for a free consultation.