A New Jersey appellate court has stated a former couple’s equitable distribution of marital assets may not be revisited absent extraordinary circumstances. In an unpublished opinion, a New Jersey couple divorced in 2002 after more than 30 years of marriage. At the time, a mutually agreed upon property settlement agreement (“PSA”) was incorporated into the court’s final judgment of divorce. The PSA required the husband to pay his former wife “limited duration alimony” on a monthly basis until June 2023. The PSA also included a handwritten note that stated alimony payments would terminate if the wife remarried or either party passed away.
In addition to the alimony payment provision, the PSA divided the former couple’s assets equitably between them. In exchange for maintaining ownership of a memorabilia collection and the full vested interest in his pension, the husband agreed to pay his former wife a second monthly payment that was identical to the alimony schedule in both amount and duration, except that the payments were not scheduled to cease upon the death of either party. The wife lived with her boyfriend at the time of the former couple’s divorce.