Alimony support calculation

[tech_2022]

Jurisdiction

New Jersey

My spouse and I are discussing divorce after 16 years of marriage, and we have 2 children. I am the sole earner. For the past few years, I have had a primary job and a side business that raised our income by 3-4 times. The business has lost its steam and will end in the near future and I will end up doing only my primary job partly by my decision to reduce hours. How will this affect alimony?. I want to be fair in the division of assets and pay alimony and child support based on my primary job income. Is it advisable to close the business before we initiate the process?

 

[zddoodah]

How will this affect alimony?. I want to be fair in the division of assets and pay alimony and child support based on my primary job income. Is it advisable to close the business before we initiate the process?

This is something that only a local divorce attorney -- one who is familiar not only with the applicable law but also how the local judges handle things like this -- can answer.

I would hope it obvious that shutting down the business prematurely to give the appearance that you'll only have your "primary job" will not look good. However, if the financials for the side business are clear, then they should be compelling evidence. Query if/how involved your spouse is in the side business. Does he/she know what's going on with it or will it come as a surprise to him/her that "[t]he business has lost its steam and will end in the near future"?

 

[army judge]

How will this affect alimony?

Alimony is the least of your worries, mate.

If the children are minors in NJ, child support accrues until the child(ren) is(are) at least age 18 and/or no longer pursuing a high school education.

Regarding your marital assets:

New Jersey has a system of equitable distribution – not equal distribution.

The system does not lead to a 50% split.

The system ATTEMPTS to identify the marital property, valuing same to achieve an "equitable" distribution through the divorce process.

The next step you should take is seek and retain the best divorce attorney your money can fund.

 

[tech_2022]

She is not involved but has the knowledge of decline. The business entirely runs on my time outside of the primary job's work schedule. I work close to 80 hours a week. Even though it can supplement my income, I am not willing to put that time anymore

 

[army judge]

She is not involved but has the knowledge of decline. The business entirely runs on my time outside of the primary job's work schedule. I work close to 80 hours a week. Even though it can supplement my income, I am not willing to put that time anymore

You put forth a totally understandable and believable response.

However, your answer can be buttressed if you have "health issues" (or are developing same), or you are entering your "golden years".

The other side of the coin could reveal difficulties if you are in "excellent" health or are just entering your late 30s or early 40s.

Before you put forth an answer for your divorce filing, it would behoove you to discuss this with the outstanding divorce lawyer you'll soon be retaining.

 

[adjusterjack]

I want to be fair in the division of assets and pay alimony and child support based on my primary job income. Is it advisable to close the business before we initiate the process?

A judge might find it suspicious that you are reducing your secondary hours and closing the business in contemplation of divorce.

Here are some guides to alimony in NJ.

new jersey alimony calculator at DuckDuckGo

OTOH the judge might find that the children are old enough so that your wife no longer needs to be a stay-at-home person and will award her minimal temporary alimony and instruct her to find work.

One word of caution, however, reach an agreement that's more than just fair lest you make a couple of attorneys very happy while they deposit lots of your money in their bank accounts.

Attorneys love hostile divorcers.

 

[zddoodah]

She is not involved but has the knowledge of decline. The business entirely runs on my time outside of the primary job's work schedule. I work close to 80 hours a week. Even though it can supplement my income, I am not willing to put that time anymore

Her knowledge may make this easier. At the end of the day, if what you think is reasonable to pay is close to what she thinks is reasonable to receive, then you'll get it done without a lot of tooth pulling. The first step is to see if you can come to an agreement without a lot of tooth pulling. Consult with a local attorney.