Most people who are preparing to divorce after many years of marriage have some concerns about their financial future. If, for example, you left the full-time workforce to be a stay-at-home parent and never regained the momentum you once had in your career, that can be a major concern if you and your spouse are going your separate ways.
If you have had a comfortable lifestyle paid for largely by your spouse’s income, you may wonder if your contributions to the family and your spouse’s career will be recognized as you divide up assets and negotiate spousal support. In fact, they can and should be recognized.
What does New Jersey law say?
Among the factors that New Jersey law allows to be considered when judges are awarding spousal support (alimony) is the “standard of living established in the marriage or civil union and the likelihood that each party can maintain a reasonably comparable standard of living, with neither party having a greater entitlement to that standard of living than the other.”
That means if one spouse can afford to pay enough in support and/or share marital assets in a way that will allow their ex to maintain their marital standard of living without infringing on their own, a judge may agree to that. Of course, other factors will be considered, like both spouses’ ages and health, the receiving spouse’s earning potential and other obligations (like child or elder care) and the sacrifices of the receiving spouse for the other’s education, career or business.
Certainly, it’s generally best when divorcing spouses can work out alimony and property division agreements on their own, with the help of their legal representatives. However, if that’s not possible, you may need to be prepared to make a strong case to a judge. In either event, seeking legal guidance can help you to better ensure that you ultimately receive a settlement that is truly fair given your unique circumstances.