As you near retirement age, you may be excited to start the next chapter of your life without worrying about working. However, you may be shocked to discover that the alimony payments that are supposed to end when you stop working may continue. This blog explores what retired spouses making alimony payments must know about these circumstances and how New Jersey alimony attorneys can help you during these complex and often frustrating matters.
Do Retired Spouses Still Have To Make Alimony Payments?
If you are retiring, you may wonder what will happen to alimony payments made to your spouse. Generally, for adults who reach retirement age, which in New Jersey is 65, alimony payments made to a recipient spouse will cease. However, they must still go to court to receive a termination in their spousal support payments.
It’s also important to understand that the courts will consider a number of factors to ensure you’re retiring in good faith and not simply to get out of making payments. As such, the courts will consider the following:
- The age of each spouse
- The income of each spouse
- Whether or not the recipient spouse was able to build an adequate savings
- How the retirement will financially impact both spouses
- Each spouse’s health
- The job demands of the retiring spouse
You should also be aware that if want to retire before age 65, the courts will more carefully consider your motives for doing so, as they will be wary that your motivation is to spite your spouse and end alimony. If you can prove that you’re doing so for legitimate health concerns or financial incentives, you may not have to continue paying alimony at the same levels you were before you retired. However, if you are doing so because you’re tired of working, you may not be able to cease payments if it considerably impacts the financial status of your ex-spouse.
How Can a Lawyer Help Me During This Process?
If you want to retire but have concerns about your financial status and alimony payments, it’s imperative to contact an attorney as soon as possible to discuss your situation. These circumstances can be complex, and there are many things the courts must consider before granting the termination of alimony for divorcing spouses. Unfortunately, trying to navigate this process without legal representation can have significant impacts on the outcome of your case.
When you plan on retiring after decades in the workforce, you’ll likely want to ensure you do everything possible to enjoy your golden years. However, making alimony payments can impact your plans. As such, the team at Haber Silver Russoniello & Dunn will examine your circumstances to do everything possible to assist you during these challenging times. Contact our firm today to schedule a consultation with a member of our legal team.