When New Jersey parents go through divorce, it is likely that their financial situations will be considerably impacted. Individuals who shared a single income may wonder how they will handle their finances as a single individual, especially if that party has custody of any children involved. Therefore, concerned parents will likely want to find out how alimony and child support may affect their situation.
If one individual did not work and mostly attended to the children and other domestic duties, finding a steady source of income may be difficult after divorce. Similarly, that individual may not have much money saved due to not having a source of individual income. As a result, this party may want to work toward gaining an agreeable amount of alimony from the working spouse that could help supplement finances.
Additionally, if an individual stayed home to care for the children, it is possible that individual will gain primary custody of the children. In terms of finances, this may mean that this party is entitled to child support from the non-custodial parent. This support can help with expenses related to the children’s needs, but in some situations, additional money may be requested for children’s activities and other expenses.
Having concerns over finances is not unusual for individuals facing divorce, and there are steps that parties may be able to take to feel more confident about their situations. Gathering information about alimony and child support may help New Jersey residents better understand how to work toward an agreement that works for them. Similarly, their particular circumstances could play a role in how to approach the proceedings.
Source: The Huffington Post, “An Open Letter to Snow White: Custody, Alimony, and Child Support for the Dwarves“, James J. Sexton, July 30, 2015