how alimony is determined in NJ

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how alimony is determined in NJ

Unread postby Lenny1970 » Fri Apr 07, 2017 9:17 pm

Can someone confirm how I think alimony is determined in NJ. There's no clear-cut formula. However, several articles, such as http://www.njalimonylawfirm.com/how-is- ... calculated ... show that Judges generally use a 25% or 30% rule as the starting point. So if the husband makes $60k & wife $30k; diff is $30k. Husband would owe alimony of between $7,500 (25%) to $9k/yr (30%). Other factors, such as need, ability to pay, etc... would all factor in. But the rule of thumb appears to be 25-30% of the higher earner's wages go to the ex-spouse. I believe the alimony would continue until the paying spouse reaches age 67. Could somone confirm if my understanding is correct or not? Thanks
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Re: how alimony is determined in NJ

Unread postby lovingfatherof2 » Sat Apr 08, 2017 9:33 am

Please try to keep everything in one thread. You are like a moving target, makes it hard to remember the details.
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Re: how alimony is determined in NJ

Unread postby Lenny1970 » Sat Apr 08, 2017 9:43 am

lovingfather, okay, in future i'll keep it one thread, but here, i was trying to focus on just the formula for determining alimony. Thanks.
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Re: how alimony is determined in NJ

Unread postby Tom Kirkpatrick » Sat Apr 08, 2017 1:23 pm

Lenny1970 wrote:I believe the alimony would continue until the paying spouse reaches age 67.
Q: In terms of years, what's the time frame between now and then??

Also, what's the status of your case?? Whatever happened to the so-called "binding arbitration" you were supposedly locked in to??

Tom
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Re: how alimony is determined in NJ

Unread postby Lenny1970 » Sat Apr 08, 2017 2:00 pm

Tom, the arbitration agreement was set aside by my spouse. I think her lawyer told her the Arbitration Agreement was a total fraud and would never hold up. In addition to all the defects w/ the Agreement mentioned earlier, i.e., no scope, I subsequently found out that Arbitrators just about always have to be lawyers. I'm 99% sure none of these arbitrators were lawyers. So we essentially went back to square one. Tried doing mediation. I wanted consideration for giving the Jewish Get (divorce document); which my STBEW said no to. So we broke off mediation. Then my wife filed no-force default in NJ State court. We're early 50s, so about 15 yrs until age 67 (soc sec).
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Re: how alimony is determined in NJ

Unread postby Tom Kirkpatrick » Sat Apr 08, 2017 11:00 pm

Lenny1970 wrote:We're early 50s, so about 15 yrs until age 67 (soc sec).

15 yrs X 12 mos/yr = 180 mos

$7500/12 mos = $625/mo alimony

$625 X 180 mos = $112,500 total alimony

Your best bet would be to buy her out. The last thing you need is a ball and chain for the next 15 yrs.

Give her something she wants. Negotiate!! Offer her a 60/40 split in marital assets (vs 50/50).

Tom
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Re: how alimony is determined in NJ

Unread postby Lenny1970 » Sun Apr 09, 2017 10:55 am

tom, agreed on the buyout. But i'm really trying to see if anyone has expeerienced the issue of 25-30% of the higher earner's wages to the ex-spouse & alimony ending at 67. Thanks
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Re: how alimony is determined in NJ

Unread postby Tom Kirkpatrick » Sun Apr 09, 2017 11:41 am

Lenny1970 wrote:.....& alimony ending at 67.
If you hafta pay alimony, at the very least: You want a non-modification clause and a termination date certain. Alimony must never be her lifetime pension.

The only thing you want modifiable is if you lose your job or if you hafta take a pay cut or if you hafta leave the workforce due to some disability. You're getting older, Bro. And as you age, anything can happen.

Lenny1970 wrote:.....I'm really trying to see if anyone has experienced the issue of 25-30% of the higher earner's wages.....
Unless you settle out of court, alimony awards are generally awarded on a case-by-case basis. And FYI, when it comes to alimony, NJ is one tough state.

Do yourself a favor. Buy her out. You'll be glad you did.

Tom
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Re: how alimony is determined in NJ

Unread postby jumanji » Tue Apr 11, 2017 11:29 am

Remember that you do not pay tax on alimony paid - she does.
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Re: how alimony is determined in NJ

Unread postby Lenny1970 » Tue Apr 18, 2017 8:25 am

So does anyone have a real-life example of how alimony was determined? Thanks
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