Melinda L. Singer, Esquire
Hackensack Family Lawyer
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Divorce settlements may not focus on alimony much longer

Couples in New Jersey who have finally come to the decision that they will end their marriage understandably may feel overwhelmed by the emotional toll of the choice they have made. However, if they believe that one of the spouses might be deserving of spousal support, they will not want to wait long before taking steps to get their divorce underway. As difficult as this sounds, the reason for this is because by waiting, that person may end up with a lot less in alimony than if they can manage to get their divorce completed this calendar year.

As reported by CNBC, current alimony payments are tax deductible by the person who makes the payments and while that means the receipient has to pay the taxes it also means the paying spouse may be more willing to agree to making those payments. Under the new tax plan, any divorce completed as of January 1, 2019 or later will find the paying spouse also responsible for income taxes on alimony. As such, these spouses may not be so willing to agree to spousal support.

In a divorce, it might take several months before couples can get to a final agreement and therefore time is of the essence for anyone wanting to get alimony under the current law.

Any person in New Jersey who is approaching an imminent divorce and wondering if the tax change relative to spousal support may be good or bad for them might want to consult with an attorney for guidance.

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Melinda L. Singer was selected to the 2017 & 2018 Super Lawyers list. The Super Lawyers list is issued by Thomson Reuters. A description of the selection methodology can be found at: http://www.superlawyers.com/about/selection_process.html. No aspect of this advertisement has been approved by the Supreme Court of New Jersey.

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Melinda L. Singer was selected among the Top Lawyers in Bergen County by (201) Magazine in 2013, 2017 & 2018. The list of Top Lawyers in Bergen County was compiled from the results of a peer-review survey, conducted by Professional Research Services (PRS) of Royal Oak, Michigan. According to (201) Magazine’s website, “[t]housands of attorneys throughout Bergen County were contacted by PRS and asked who they would recommend within the county in given areas of law.” For more information on the criteria for being selected as a Bergen County Top Lawyer, see http://dng.northjersey.com/media_server/201/201_Magazine_TopLawyers_2015.pdf. *No aspect of this advertisement has been approved by the Supreme Court of New Jersey. The lawyers nominated to (201) Magazine were included in the lists with those names, and do not suggest that the lawyer has that attribute.

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