If you are going through the divorce process, you may be wondering if you are going to have to pay alimony when the divorce is finalized. You might also be wondering if there’s a chance you will receive alimony payments once the judge signs off on the divorce. How does a judge calculate how much spousal support someone will receive? There are several important points to keep in mind. Remember that you should rely on a divorce attorney Chester NJ who can advocate for your rights and make sure that the judge is taking all factors into consideration. What do you need to know about this process?
An Overview: The Process of Setting Alimony
In general, there are three separate factors the judge is going to consider when deciding how much someone will receive in alimony. Some of the factors the judge will consider include:
- The amount of money someone is going to reasonably earn every month based on his or her current job situation
- What the expenses are going to be for each individual party, taking into account the lifestyles that each spouse was leading prior to the divorce
- What payments are going to be required in order for each spouse to maintain something close to the standard of living that was established during the marriage
If there is not enough money for each spouse to continue his or her own lifestyle after the divorce has been finalized, the judge will do everything possible to make sure the spouses receive the burden of the divorce equally through alimony payments.
Does the Court Take Into Account Savings and Investments?
There are a lot of couples that try to save a significant amount of money every month. Therefore, it is possible that one or both spouses will have a significant amount of money stored away in stocks, bonds, mutual funds, and savings accounts. Therefore, a lot of people are wondering if the judge is going to take these financial savings accounts into consideration when deciding if someone should pay alimony.
The answer is that it depends on the judge, the state, and the precedent that has been set. It is important to speak with an experienced New Jersey family law firm about this issue. That way, you will have a better understanding of how your savings accounts could make an impact on your alimony payments.
What Does “Reasonably Earn” Mean?
As mentioned above, judges are going to set alimony payments based on what someone might “reasonably earn.” For example, someone who has an exceptional education might try to get an easier job to avoid working hard. The judges are going to take this information into consideration. As an example, if someone is underemployed, making less than what he or she could earn otherwise, the judge is not necessarily going to order the other spouse to pay money to make up for someone being lazy. It is important for judges to make sure they do not create an incentive for someone to avoid working. Therefore, this is going to be taken into account when setting alimony payments.
Rely on a Family Lawyer in Chester NJ
Clearly, there are a lot of moving parts involved in alimony payments. That is why you should rely on a Chester New Jersey Law Firm to help you during this situation. If you are looking for an alimony attorney in Northern NJ, then rely on Edens Law Group. We provide you with access to an experienced divorce attorney in Chester NJ who can guide you through this situation. It is our goal to advocate for your best interests every step of the way. Give us a call today to speak to a family law attorney in Chester NJ.