Legal Question in Family Law in New Jersey
Changing a divorce settlement or Determining a buyout figure for alimony
After being divorced in 1993 I was required to pay Alimony after children were emancipated in the amount of $750/month. The settlement was based on my earnings of $70,000-$80,000(salary of $55,000, tutoring income-$10,000 Camp ownership-$8000). These earnings were expected to be $80,000-$100,000 in five years. My wifes earnings were $41,000 and expected to be $55,000 in five years. In 1997 I retired from my job in NJ and moved to Arizona. My salary was immediately cut to $39,000, tutoring stopped completely and income from camp ownership declined (earnings were $45,000. Am I entitled to change my alimony?
1 Answer from Attorneys
Re: Changing a divorce settlement or Determining a buyout figure for alimony
It appears that you have a substantial change of circumstance that may convince a Court to adjust or negate your alimony obligation. However, until you get a Court Order, you are obligated to continue to pay. Accordingly, you should immediately contact a NJ attorney to discuss your case in detail and then make a decision as to the manner in which to move forward. If you want me to assist you, feel free to call me at 856-546-8010. Good luck!