In our last Blog post, we discussed the presumption created by the New Jersey 2014 Alimony Reform Act, that alimony should be terminated upon the paying party’s retirement at full Social Security Retirement Age.
But what if you are the party who is receiving the alimony, and you simply cannot make ends meet without continuing to get the alimony? Is the presumption rebuttable? In other words, do you have the opportunity to try to convince the New Jersey Family Court that the alimony must continue?
The answer is yes.
The New Jersey 2014 Alimony Reform Act provides that the presumption may be overcome if, upon consideration of the following factors and for good cause shown, the New Jersey Family Court determines that alimony should continue:
- The then current ages of the parties.
- The ages of the parties when they were married and when the alimony was first awarded.
- The degree and duration of the economic dependency of the spouse receiving alimony on the spouse paying alimony during the marriage.
- Whether the spouse receiving alimony sacrificed any property or claims in the settlement for a larger or longer alimony award.
- How long the alimony has already been paid.
- The current health of the parties.
- The current assets of the parties.
- Whether the party receiving alimony has reached full retirement age.
- The then current income of both parties.
- The ability of the party receiving alimony to have saved adequately for retirement.
- Any other factor deemed relevant by the New Jersey Family Court.
What happens if you overcome the presumption? The New Jersey 2014 Alimony Reform Act provides that the New Jersey Family Court will then apply to the parties’ current circumstances the factors by which it would decide an initial request for alimony, in order to determine whether modification or termination of alimony is appropriate.
Whether you are making or facing an application to terminate alimony because of retirement, you need to speak with an experienced New Jersey divorce attorney to discuss the specific facts of your case.
Salvaggio Law Group LLC devotes its entire practice to New Jersey Divorce and Family Law matters, including New Jersey alimony issues.