If I Retire, Will My Alimony Payments Continue in New Jersey?

After decades in the workforce, you may be eagerly anticipating your retirement. However, if you are currently paying alimony to your spouse, you may worry about whether or not these payments will be ordered to continue after you stop working. If you’re getting ready to retire, it’s imperative to keep reading to familiarize yourself with what you can expect and how a New Jersey alimony lawyer can help guide you through this often complex and confusing process to ensure you achieve the best possible results.

How Does Retirement Impact Alimony in New Jersey?

In New Jersey, the impact of retirement on alimony payments is governed by specific statutes within the state’s family law. Under N.J.S.A. 2A:34-23(j), retirement is recognized as a “good faith” reason for modifying alimony obligations. This statute indicates that when the paying spouse reaches the full retirement age for Social Security, there is a presumption that alimony payments should be modified or terminated. However, this presumption can be rebutted by the receiving spouse under certain circumstances.

The court will consider various factors, such as:

• The age and health of both parties.
• The paying spouse’s field of employment and the generally accepted age of retirement for those in that field.
• The impact of the retirement on the paying spouse’s finances.
• The ability of the paying spouse to continue making payments after retirement.
• The financial independence of the recipient spouse, including their savings or retirement funds.

For Early Retirement

If you plan to retire before reaching the full retirement age for Social Security, as per N.J.S.A. 2A:34-23(j), the court will closely scrutinize your decision. It will assess whether the early retirement is in good faith and not a strategy to avoid alimony payments. Factors like the timing of when you retire in relation to alimony obligations, the paying spouse’s health and motivations, and the financial impact on both parties will be crucial in the court’s decision.

If I’m Ready to Retire, What Should I Do?

Before taking any steps towards retirement, it is essential to consult with an experienced New Jersey alimony attorney. They can guide you through the complexities of N.J.S.A. 2A:34-23(j) and other relevant statutes, ensuring you understand your rights and obligations. An attorney can also assist in filing a motion for modification of alimony, providing evidence to support your claim, and negotiating with the other party.

At Lawrence Law, we understand how complicated these matters can be. That’s why our team is dedicated to helping you achieve the best possible outcome for your unique circumstances. Contact our office today to connect with a member of our team to discuss the details of your case.