09 Sep Alimony Awards in High Asset Divorce Cases
While all divorce is challenging, determining alimony in high asset cases can be particularly complex. Issues of fairness and equitability that at first glance might appear cut and dry are usually anything but. If you’re facing divorce and your situation involves significant assets, you need a knowledgeable divorce lawyer. Jeffrey M. Bloom has more than 25 years of experience handling high asset divorce cases, and he can ensure your rights and interests are protected every step of the way.
There are five different types of possible alimony awards in the state of New Jersey:
- Alimony pendente lite (temporary alimony) is awarded only during the divorce proceeding itself to a low income or unemployed spouse.
- Limited duration alimony is awarded to a spouse with demonstrated financial need in order for that spouse to become self-sufficient.
- Rehabilitative alimony is awarded to a spouse for a period of time to assist with education or other training needed for that spouse to become self-sufficient.
- Reimbursement alimony is awarded to a spouse who supported the other spouse’s education and is unable to benefit from the opportunities associated with this education due to the divorce.
- Permanent alimony, as the name suggests, is awarded for an indefinite period of time and is normally awarded to a spouse who put his or her life on hold during a long marriage so that the other spouse could advance his or her career or education.
In a high asset divorce, the alimony award depends upon the degree to which the court determines the assets are to be shared or individual. New Jersey divorce cases are decided according to an equitable division of property, but equitable need not mean 50/50. The law is complex, which is why having a skilled divorce lawyer such as Mr. Bloom on your side is so important.
If you’re facing a high asset divorce, you need an experienced alimony attorney who knows how to win. Please contact the Law Offices of Jeffrey M. Bloom today to schedule a consultation. Mr. Bloom serves clients in West New York.