Untangling marital assets is one of the most difficult parts of ending a New Jersey marriage. For spouses preparing for a high asset divorce, the process can be even more challenging. Spouses who share a diverse mix of assets must take precautions to ensure that dissipation of marital wealth is not an issue in their divorce case.
Posts tagged "Family Law"
Your children are accustomed to living with both of their parents. They feel stable in having you both there because that is the only arrangement they've ever known. If you and your husband decide that the marriage is over, one of the most difficult first steps may be breaking the news to the kids.
For many New Jersey parents, struggling to provide financial support for their kids is an ongoing challenge. In households where only one parent is present, financial support from the other parent is critical to covering expenses related to raising shared children. When child support is not forthcoming, it places an enormous burden on families and on state agencies tasked with collecting unpaid child support.
Some New Jersey spouses have the good fortune of a simple and easy divorce. For most, however, a number of factors will serve to complicate the divorce process, especially when it comes to matters of property division. Working through those issues can be far easier with the services of a financial advisor who specializes in divorce settlements.
Young people today have a vastly different experience of life than their parents or grandparents enjoyed. Advancements in technology have forever altered the way that we live, work and interact with one another. When young people in New Jersey prepare to marry, they have a unique set of family legal issues that need to be addressed. To that end, the prenuptial agreements that they create are very different from those used in decades past.
Planning for retirement is a top priority for many New Jersey residents. Setting aside money to ensure a comfortable and secure retirement is important, and is a goal that many people work toward for the majority of their adult lives. Losing a significant portion of that investment during the property division process can be devastating. The following tips can help spouses make decisions that are in line with their retirement goals.
When an individual is able to create a successful startup, he or she can become enormously wealthy in a very short period of time. That is also true of innovators in the field of technology, where a successful software product or phone app can change one's fortune from one day to the next. For those in New Jersey who have done well in the tech industry and are considering divorce, it is important to understand the unique challenges that might arise in a high asset divorce.
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.
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.
The division of marital wealth is the primary focus of many divorcing New Jersey couples. How to handle the disposition of the family home is one of the most emotionally charged aspects of property division, and an area in which many couples struggle to reach an agreement. At the end of the day, there are two main options. One is to sell the home, the other is to allow one spouse to retain the property.