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In most cases, alimony is temporary. But, if your marriage has lasted for more than 20 years, you may be eligible to receive permanent alimony. If your marriage has lasted for less than twenty years, New Jersey law limits the amount of time that you can receive alimony to the amount of time that you were marred.
There Is No Permanent Alimony in New Jersey (Usually) For example, if the marriage lasted ten years, alimony can usually only last up to ten years. Alimony reform laws did not retroactively apply to awards before the effective date of the new law.
Q: Do I have to split my savings in a divorce? A. Even though the savings account is in your name, courts view savings accounts as community property and it will be split between you and your spouse in the divorce.
The spouse with the higher income and whos been supporting the other spouse is usually the one who pays alimony or spousal support in a divorce. Alimony in New Jersey is not a cut and dry issue. To award alimony, the court has to consider 13 different factors.
With a joint bank account, two people own the account and both have equal rights to the funds in it. So, no matter who puts in the money and how much, either owner can technically empty the account at any time.
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Statutory Definition of Marital Property Under New Jersey law, marital property includes all property, both real and personal, which was legally and beneficially acquired by either of them during the marriage. This excludes any gifts (unless given to one spouse from the other) or inheritances.
There Is No Permanent Alimony in New Jersey (Usually) For example, if the marriage lasted ten years, alimony can usually only last up to ten years. Alimony reform laws did not retroactively apply to awards before the effective date of the new law.
A. Separate bank accounts are marital property if they are considered to be commingled. This means that if you or your spouse have depositing money into or used the funds from the account, it is considered to be commingled and must be equally split in a divorce.
No, New Jersey is not a community property or 50/50 state. New Jersey is an equitable distribution state, which means the court is instructed to divide assets in a manner that is fair, but not necessarily equal.
Couples who established bank accounts after the marriage began must divide these accounts equally when seeking divorce. Specific accounts that contain marital funds are the marital property of both parties. The name on the account is not important when it comes to deciding who owns the account for divorce purposes.

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