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Jennifer McCaskill
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Alimony Archives

Try to avoid these common alimony mistakes

Negotiating spousal support is never a simple or easy process, but many breadwinners make very common mistakes that can harm their interests in the long run. Knowing what those mistakes are can help men and women avoid choosing the same path and experiencing the same outcome. New Jersey spouses should take the time to think about the long-term ramifications of making hasty or ill-advised alimony decisions

The alimony tax deduction is coming to an end soon

It's never easy for New Jersey spouses to make the decision to end a marriage, but in some cases timing is an important consideration. For example, spouses who expect to pay alimony should think carefully about how a big change in tax laws could alter their tax bills in the years to come. The Tax Cuts and Jobs Act has eliminated the alimony tax deduction, which will affect the bottom line for many New Jersey spouses. 

Changing gender roles can impact alimony outcomes

According to researchers, one of the biggest risks to a marriage is a shift in traditional gender roles. Very often, those changes take place when the New Jersey spouse who was once financially dependent on his or her partner begins earning more. If one spouse starts to outearn the other, the change in marital dynamic can cause serious harm. If divorce is the eventual outcome, alimony may not be a cut-and-dried issue.

Could Facebook become a focus in calculating alimony?

When it comes to matters of spousal support, New Jersey spouses should know that there is very little that is set in stone. Family law courts have the ability to create an alimony structure that serves the ends of each couple, as the court sees fit. That means that spouses should pay close attention to their actions as they near a divorce, including their online activities. Family law attorneys are now turning to Facebook and other social media sites for information and evidence that can be used in negotiating for property division, child custody and alimony.

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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