Maintaining the best standard of living possible after divorce

On behalf of Barli & Associates LLC posted in alimony on Thursday, May 3, 2018.

As the “less-moneyed” spouse in a New Jersey relationship, you may have grown to enjoy a higher economic standard of life by virtue of your marriage. Perhaps you don’t have the economic means to maintain this same standard after your divorce has been finalized. Under New Jersey divorce law, you might be entitled to receive spousal maintenance or alimony to assist you in keeping the same standard of living once your marriage ends.

In most cases, spousal support and alimony are temporary. The so-called moneyed spouse will pay the less-moneyed one for a set period, often on a monthly basis or via a lump-sum payment. This money is usually intended to pay for living and educational expenses while the less-moneyed spouse becomes financially independent.

There is an important component to determining the standard of living enjoyed by the spouses, and this will not be ignored by the court. It’s the notion of “artificial standard of living.” If you and your ex maintained a luxurious lifestyle through credit by living above your financial means, this will negatively impact the less-moneyed spouse’s ability to receive alimony. In determining a spouse’s legal right to get alimony, courts will always consider and evaluate the true financial situations of both spouses.

Are you ready to ask for alimony in your divorce? Make sure you understand how New Jersey family law courts decide issues relating to alimony, and then work with your attorney to prepare your demand appropriately. If successful with your demand, you may be able to receive the money you’re seeking as you move forward.

Source: FindLaw, “How Does ‘Standard of Living’ Impact Spousal Support?,” George Khoury, accessed May 03, 2018