If you’re going through a divorce in New Jersey and believe that you may be entitled to alimony, understanding the preparation and documentation needed is one of the most important steps you can take. Alimony is based on detailed financial and personal information, so what you provide to your divorce attorney can affect the type and amount of support you receive. Continue reading for more information and work with an experienced Bergen County alimony lawyer for skilled representation during your case.
What is Alimony?
Alimony, also known as spousal support, is a court-ordered payment one spouse makes to the other after a divorce. It is designed to help the lower-earning spouse maintain a lifestyle reasonably comparable to the one established during the marriage and support them until they can financially support themselves.
What Information Will My NJ Divorce Attorney Need to Pursue Alimony?
To effectively pursue alimony in New Jersey, your divorce attorney will need a comprehensive overview of both your and your spouse’s financial situations. This documentation is crucial because alimony awards are determined by the court’s evaluation of the financial needs of the supported spouse and the ability of the supporting spouse to pay, taking into account the standard of living established during the marriage.
Without detailed financial records, it is impossible for the attorney to accurately calculate a fair amount or present a strong case regarding income, expenses, and assets. Gathering this information is essential for an equitable resolution.
The specific financial information and documents typically required include:
- Proof of income: Pay stubs, W-2 forms, 1099 forms, tax returns for the last three to five years, and proof of any other income sources, such as dividends or rental income
- Expenses: Detailed monthly budget or a statement of marital expenses, utility bills, mortgage/rent payments, insurance premiums, and credit card statements
- Asset and liability statements: Bank account statements, investment account statements, retirement account statements, documentation of any property owned, and loan documents
- Case Information Statement (CIS): A mandatory New Jersey court form that requires a breakdown of all income, expenses, assets, and liabilities
All of this information is pertinent in a petition for alimony.
How is Alimony Calculated?
Unlike child support, New Jersey does not use a formula to calculate alimony. Instead, judges consider a list of factors to determine the type, amount, and duration of support. These factors include the actual need and ability of the parties to pay, the duration of the marriage, the age and health of the parties, the standard of living established during the marriage, and the earning capacities of both spouses, among other things.
The detailed financial documentation listed above is crucial because it provides necessary evidence for the judge to evaluate these factors fairly. This documentation establishes the standard of living, determines the supporting spouse’s ability to pay, and verifies the supported spouse’s actual need, ensuring the final alimony award is fair.
