Avon Divorce Lawyer
Avon, formally known as Avon-by-the-Sea, is located along the southern coast of Monmouth County. Situated directly above Belmar, the borough is surrounded by the Atlantic Ocean, the Shark River and Sylvan Lake. Avon was officially incorporated on March 23, 1900, from portions of Neptune City, and has long been considered a summer resort community for tourists from New York and Philadelphia. Although Avon is predominantly a middle class community, most couples have a wide range of marital assets that must be divided equitably in a divorce. For example, defined contribution pension plans are eligible for equitable distribution, but the valuation of such plans involves complex calculations. An experienced family law attorney can refer you to forensic accountants, and other divorce professionals in your area. Many divorces also involve sensitive issues such as child custody and child support; legal advice can help protect you, as well as your children.
How to Calculate Alimony Payments
In New Jersey, there are several factors that go into the calculation of alimony payments. Our firm is experienced in handling these difficult economic aspects of the divorce process. Some of the factors that a court may consider are the following: the need and ability of parties to pay; the age and health of the parties; the parent responsibilities for the couple’s children; and other factors a court may find relevant.
Making matters more complicated is the fact that a court may award a temporary alimony. Indeed, like other states, New Jersey courts may order alimony pendent lite payments be made, which are alimony payments paid before a settlement is reached and the divorce action is proceeding in court.
What is Alimony Pendente Lite?
These short-term alimony payments are not to last forever, as it is a temporary means of a party to the marriage to pay bills and regular expenses. This is typically done as a request by the lower-income earning spouse. Of course, alimony calculations are made on a case by case basis, because the economy of every marital unit is completely different.
Taxes, Retirement and Re-marriage, and How they Affect Alimony Payments
Once divorce proceedings are done, an ex-spouse may be ordered by the court to continue paying alimony to the other ex-spouse, usually to maintain the same standard of living as enjoyed during the marriage. Outgoing alimony payments are tax-deductible, and receipt of alimony is considered taxable income.
When parties reach retirement age, there is no automatic switch that turns off the necessity to make alimony payments. Avon by the Sea payers of alimony should not be discouraged: when retiring in good faith at age 65, the paying party is entitled to a hearing discussing a change in their alimony obligations. What sort of factors will likely affect the amount of alimony payments? Courts may consider involuntary decreases in either spouse’s income (as well as an increase in income); the increase of financial obligations of the paying spouse; or cohabitation with a new partner.
Death will, however, cease alimony payments altogether: your estate will not be obligated to continue paying alimony to your ex-spouse after you have passed. In addition, upon the death of your ex-spouse, you will no longer be obligated to pay the estate of your ex-spouse any alimony payments: the rights and duties surrounding alimony terminate upon death. Another event that triggers a termination of alimony payments, by operation of law, is when the recipient of alimony remarries. This is based on the idea that the new spouse will provide economically for the recipient of alimony payments.
Avon by the Sea Borough Divorce Attorneys
The attorneys at Villani & DeLuca are ready to hear about the intricacies of your case and take it head-on. During these tough, difficult times, you need a team of lawyers on your side that will fight to ensure that your economic interests surrounding the end of your marriage are held intact, whether you are the one paying or receiving alimony or other financial assistance. Call us at (732) 965-3350 for a free consultation so that we can get started with the particulars surrounding your case right away.