Whenever a business owner, a high-income earner or a high-value asset owner divorces, there can be thousands and even millions of dollars at stake in the asset division. After the asset division, there often are large amounts of money involved in alimony payments as well. New Jersey spouses will want to remember that continued receipt of alimony can hinge on the living situation of the receiving spouse.
Last month we told you about a case that may be impacted by New Jersey’s new law on the effect of cohabitation on the right to receive alimony. An ex-husband claimed that his ex-wife and her boyfriend were cohabiting, and therefore the ex-husband should no longer have to pay alimony to the ex-wife under the new law. The ex-wife claimed that she and her boyfriend were not cohabiting, and therefore the alimony payments should continue.
The law lists a number of factors that define whether a relationship should be considered cohabitation, and this means each party will make legal arguments to try to prove that the relationship in question either is or is not cohabitation under the law. This means that spouses may want to have the counsel and support of an attorney while making their case about whether a spouse’s living situation should be considered cohabitation.
The professionals at Diamond & Diamond, P.A. stand ready to help New Jersey spouses with this issue and other issues that can come in a high-asset divorce. We can be reached by telephone and email. For more information on the services we provide, please see the high-asset divorce page on our website.