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Jennifer McCaskill
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Alimony Archives

Republican tax plan takes aim at alimony deduction

As lawmakers continue working on a large-scale tax plan, a great deal of focus has been placed on improving the financial landscape for working-class Americans, including those in New Jersey. However, certain provisions within the proposed tax bill could have drastic negative consequences on working families. An example lies in the alimony tax deduction, which is currently slated to end should the bill be signed into law in its current form and has sparked debate across the nation.

Understand alimony before negotiating a prenuptial agreement

When most New Jersey couples are planning to wed, the last thing on their minds is negotiating the terms of the end of that union. However, statistics suggest that nearly half of all marriages will ultimately end in divorce. Understanding property division and alimony roles can help couples negotiate a prenup that is fair to all parties.

Reducing alimony payments based on change in income

For many New Jersey couples, determining the appropriate level of spousal support is a primary focus during the divorce process. Alimony is determined based on a number of factors, including the income and assets of both parties, as well as the duration of the marriage and other circumstances specific to the couple. Once an alimony payment amount and schedule has been determined, modifying those terms can be an uphill battle.

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