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April 2017 Archives

After a divorce, aim for a healthy balance of new and old credit

Many New Jersey spouses emerge from the end of a marriage somewhat stunned, and feeling emotionally exhausted. It can be hard to remember that this is a time of renewal, when an individual has the chance to chart a new course for the rest of his or her life. Gaining financial stability is an important part of that process, and should be a primary post-divorce plan. Attaining the right balance of credit is a great place to begin.

Consider estate planning needs at the end of a marriage

For many New Jersey residents, bringing a marriage to a close is an onerous process, one that is filled with a seemingly endless list of to-do items. One important need that is often overlooked at the end of a marriage is the need to make changes to one's estate planning documents. This is especially true in regard to life insurance, which falls outside of the provisions laid out in one's will.

Address these family law issues prior to separation

When a New Jersey couple is going through marital troubles, one option is to try a period of separation. This can be a good move for many couples, and it gives spouses a chance to think things through before they make a decision on whether to move forward with divorce or work on their marriage and reconcile. However, spouses should make the terms of their separation very clear at the onset, and they should consider several family law issues prior to the separation.

Remember that debt factors into property division, too

New Jersey couples who are going through a divorce often focus on the financial aspects of the process. They worry about how to divide assets, and discuss which spouse will get which items of personal property. One thing that many couples fail to consider is the fact that debt is also part of the property division process, and must also be divided. Failing to have a plan in place can lead to some very undesirable outcomes.

4 things to consider when divorce affects a family business

Running a business is stressful. Getting a divorce is just as stressful. When your business is in the middle of a divorce, the situation can turn dire. You should make sure that you prepare for what is going to happen if you are dealing with a business involved in a divorce.

Child custody dispute centers on molestation allegations

Parents who are faced with a custody challenge from the state are often plunged into an immediate sense of panic. While many of these cases stem from a genuine concern for the well-being of children, not all of them are based on actual facts. There are instances in New Jersey and across the nation in which state agencies remove children from fit and healthy homes, and where the parents are placed in the terrible position of having to fight to defend their parental rights. An example is found in a child custody dispute that centers on multiple allegations of molestation.

Can an inheritance be protected from property division?

For those New Jersey residents who are fortunate enough to receive an inheritance, the experience can be life-changing. When a loved one leaves behind a financial gift or a piece of real estate, having that base of wealth can help build a strong financial foundation for the recipient. It is important to protect that inheritance, and to ensure that the assets are used in the manner that was intended. For recipients who are married or planning to marry, that means protecting the inheritance from loss during property division.

How to avoid the need for post-divorce modifications

Many New Jersey residents are aware that there is a possibility of addressing divorce "mistakes" once a divorce has been made final. However, post-divorce modifications are often more complicated than many people think. In addition, it is difficult to guarantee that a request for modification will result in the desired outcome. A far better approach is to take a proactive stance in the matter.

Prenuptial agreements on the rise among immigrants

Regardless of one's opinions on our new political administration, few can argue that a number of social issues haven't been impacted by the Trump administration. A prime example is the way that immigrants function within the nation's borders. In terms of family law, attorneys in New Jersey and elsewhere are reporting a spike in the number of immigrants who are pursuing prenuptial agreements prior to marrying American citizens.