Addressing Your Unique Concerns On Divorce
Whether you are facing or going through a divorce, you may have many questions on how the divorce will affect you, as well as how recent changes in the law will affect your current or future court orders.
The attorneys at Weisberg & Klauber, LLC, have decades of experience in working on behalf of divorcing individuals and their families across New Jersey. We emphasize the importance of educating our clients on the options they have, to help them make empowered, informed decisions. While we can answer any questions unique to your situation, read on for some of our most frequently asked questions:
Why Do I Have To Pay Alimony?
Alimony is consistently a contentious topic among divorcing spouses. You may have feelings of animosity toward the other, asserting that the other can support themselves or that alimony is necessary to help get you on your feet following a divorce. Whatever the case may be, courts generally rule so that both parties can reasonably maintain their lifestyle set in the marriage.
However, New Jersey courts rarely still grant permanent alimony, even for long-term marriages. When someone retires at full retirement age, spousal maintenance is typically either terminated or reduced. This is because the receiving spouse is no longer working and living off savings and Social Security. Alimony is instead more commonly awarded on a temporary or limited basis, depending on you and your spouse’s unique situation.
Do I Pay Taxes On Alimony? How Does The New Tax Law Change Alimony?
Under the Trump Administration’s Tax Cuts and Jobs Act, the individual paying alimony will now be responsible for paying taxes. This goes into effect in 2019. While divorce agreements made before 2019 will remain unchanged, agreements made after January 1, 2019, must abide by the new law.
Essentially, the new law eliminates both the tax deduction for payors of alimony and the requirement for receivers of alimony to claim such payments as taxable income. Only divorce agreements that are executed or modified after December 31, 2018, will be affected by the change. This is a substantial change for both potential payors and receivers.
What If I Have A Change In Circumstances? Do I Still Have To Pay Alimony?
If there is a legitimate change in circumstances, you may request a modification to family law court orders, including those for alimony, child custody and child support. Examples of changes that constitute grounds for modification include the loss of a job or becoming disabled. The decision of the court will depend on your specific situation and the original court order. While some changes could warrant a stop to alimony payments, some could result in modified or reduced payments.
If My Spouse Is Cohabitating, Is That Grounds For Stopping My Alimony Payments?
If they are sharing expenses and living together, this may meet the threshold of cohabitating to terminate alimony. If alimony was granted on a more long-term basis, reasons for terminating payments, aside from time, must meet certain requirements, including remarriage of the receiving spouse or death of either spouse. Other events, including cohabitation, disability or loss of a job, may warrant a modification of payments. An attorney can advise you on whether you have a case to request a modification for the termination or reduction of alimony payments.
Contact Our Lawyers On Your Divorce Questions
Our attorneys can answer questions unique to your situation on divorce, property division, alimony and much more. Schedule a consultation at our Ocean Township or New Brunswick offices to learn more about how we can assist. Call us at 732-686-6440 or email us through our online form.