A considerable portion of an individual’s life is typically devoted to the accumulation of retirement funds. However, as this life stage approaches, questions may arise concerning the continuity of alimony payments to a former spouse. Many individuals are uncertain whether retirement constitutes a basis for modification or if payments must persist unchanged. If this resonates with your concerns, please continue reading as we explore the effects retirement can have on spousal support and the importance of seeking counsel from our experienced Edison Alimony Lawyers for guidance during these challenging times.
Is Retirement Grounds for Alimony Modification in New Jersey?
In New Jersey, retiring can impact alimony payments. The law generally presumes that spousal support will be modified or terminated when the paying party reaches Social Security retirement age, as retirement is considered a “good faith” reason to cease payments. However, a receiving spouse is entitled to dispute this modification. The court will consider several factors when making a decision:
- The age and health of both parties
- The earning capacity of each party
- The accepted retirement age within each spouse’s field
- The assets and property of both parties
- The paying spouse’s ability to continue making payments after retirement
- The recipient spouse’s financial situation, including savings, retirement funds, and income.
- The reason for the paying spouse’s retirement
If you plan on retiring early, the court may ask additional questions, such as why the decision was made, if the early retirement was reasonable and planned, and your ex-spouse’s opportunities to make accommodations. In most cases, retirement, particularly if it significantly reduces the paying spouse’s income, can be considered a material change in circumstances that warrants a review of the alimony obligation.
How Do I Seek a Modification?
If you are retiring soon and wish to seek a modification or termination of alimony obligations, securing counsel from an experienced attorney is paramount. Such legal professionals can guide you in discerning the optimal course of action tailored to your unique circumstances. Additionally, they can facilitate the requisite court filings to initiate the modification or termination proceedings, as well as assist in compiling the documentation necessary to substantiate your request.
If the court determines that retirement has significantly impacted the paying spouse’s ability to pay, and the recipient’s spouse’s needs have been reduced, an alimony obligation might be reduced or terminated. If the courts find that retirement doesn’t justify a change in the support order, alimony may continue.
As you can see, modifying alimony can be a complex process. At Arndt & Sutak, LLC, we are prepared to help you pursue a modification. Connect with our firm today to schedule a consultation.
