New Jersey residents going through divorce are all too familiar with the frustration that can often accompany procedures, especially when it comes to the fine print. Navigating alimony post-divorce alone can present obstacles for some ex-spouses, depending on the situation. As far as the process goes, recent news reflects future changes in regard to alimony in the state of New Jersey.
News 12 New Jersey shared in February that future changes will be taking place in the state's alimony laws. More specifically, these modifications are connected to New Jersey's tax plans: starting in 2019, alimony payments will no longer constitute a tax deduction for spouses who pay alimony. By the same token, spouses receiving alimony will no longer include alimony as income. However, those going into a divorce agreement prior to December 31, 2018 will still work under the old regulations regarding alimony.
Not only are changes taking place on the local level; MarketWatch reported last week that more women are paying alimony than ever before. Why the gradual shift? For one, MarketWatch points out that more women have joined the workforce in recent years, becoming the family breadwinners. This shift can come as a shock to many, especially given the country's current problems surrounding gender wage gaps. MarketWatch reveals that, as of 2013, mothers were the focal provider in 40 percent of households across the nation -- a giant increase from 11 percent in 1960. Many women face the harsh reality of forced alimony payments when husbands earn very little or are unemployed altogether. While more women in the workforce is certainly a positive step forward, there nevertheless exists a number of imbalances between genders when it comes to earnings and alimony plans.