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Cherry Hill Family Legal Blog

Alimony is a complicated aspect of divorce

In the event of a divorce in New Jersey, there are many issues that need to be resolved before a marriage is legally dissolved. One of these issues pertains to spousal support, also known as alimony. Alimony is the money paid by one spouse, typically the higher earning one, to the lesser or non-earning spouse. The issue of alimony is one that must be resolved before a divorce can be finalized.

There are two main questions that arise around alimony. How much will it be for, and for how long must it be paid? The amount may be dependent on several factors, such as the actual and potential income of the recipient. If a person is younger and has many working years ahead of him or her, the amount may be set lower than someone who is nearing retirement age. One of the ideas behind alimony is that the person receiving it should be able to maintain the lifestyle that was enjoyed during the marriage.

Old calendar can be an invaluable tool in child custody dispute

Another year has passed and a new calendar is waiting to be filled with family schedules, social obligations and the myriad other appointments and tasks that fill one's days. In the event that a divorce or separation may be pending and children are involved, tossing the old calendar may not be the best idea. An old calendar can serve as a diary of children's activities and parental involvement in New Jersey. If child custody may be an issue in a pending negotiation, the data provided by the calendar can prove very useful.

If one is a typical human being, it can be difficult to remember what one had for breakfast let alone who took a child to a practice or a doctor's appointment. The stress of dealing with a divorce or separation can also serve to cloud a person's memory. In addition to helping one remember sports and other activity schedules, the calendar can also be useful for providing other information regarding important things such as health history as well as more mundane activities such as birthday parties. All of this can also assist in developing the budget needed to support these activities.

Ways to simplify asset distribution in a divorce

Another year is about to begin, and the new year may mean a divorce for many couples in New Jersey. More people typically file for divorce in January than in any other month. Another issue that typically comes to the fore in January concerns taxes and personal finances in general. When divorce and taxes are combined, frequent questions involve who is entitled to what assets and how taxes will be implicated?

Many people have a significant portion of their financial assets in 401(k) accounts. Amounts contributed to those accounts are typically considered marital property and are subject to asset division in a divorce procedure. If a prenuptial agreement exists, this may dictate the split of these assets. New Jersey is an equitable distribution state, which means that assets are not automatically subject to a 50/50 split.

Financial pitfalls of the gray divorce phenomenon

The rate of people getting divorced, in general, is on the decline in New Jersey and around the country. However, the rate for those over 50 has increased significantly in recent years, resulting in the coining of the term "gray divorce." In addition, studies show that a person who has been divorced once is more likely to do it again than a person who never ended a marriage. An extreme example of this is that of well-known TV personality Larry King, age 83, who is ending his eighth marriage.

There are many sobering issues around the gray divorce phenomena, not the least of which are financial ones. A couple parting ways in their 20s or 30s still have their prime earning years ahead of them. For a couple nearing retirement, this is not the case. The situation can be particularly dire for a woman who spent most of her adult life caring for a home and children rather than focusing on a career.

A parenting plan that will work for your family long-term

When you make the decision to move forward with your divorce, you understand this choice will bring significant changes for your children. You want to make sure to minimize the negative impact they experienced and provide as much continuity of lifestyle that is reasonably possible, so you and the other parent have decided to craft your own parenting plan. This is a beneficial solution that could work well for your New Jersey family.

You have the right to create custody and visitation solutions outside of the courtroom. An impersonal family law judge does not have to be the final say in what your kids' post-divorce life looks like. No one knows your kids like you do, and you can make a plan that allows them to have strong relationships with both parents and have long-term security after your divorce is final.

Remaining amicable is best for child custody cases

Divorce is hard and often sad, and both of these are magnified when children are involved. Child custody can be a difficult issue to resolve as both parents typically love their child and consider the best interests of the child to be paramount. However, occasionally the feelings of animosity between the parents can spill over to the children and this can result in long term damage to child and parent relationships.

If a child custody case ends up in a New Jersey courtroom it may be argued by lawyers who are trying to win the case for their client and may have unintended consequences of further alienating parents and children. This is especially true if one parent is fighting to limit the child's contact with the other parent. All too often, the truth behind these situations comes out in the end and a child may become estranged from one or both parents. Spouses who work to keep their personal feelings out of custody arrangements will benefit in the long run.

Important to understand financial implications of later divorce

Marriages are entered into with a promise of for better or worse. Many couples who have been married for a long time, raised families and had careers are questioning that promise as they consider their happiness in their golden years. The rate of divorce generally has decreased except for those over 50. The rate of the gray divorce is increasing in New Jersey and around the country.

Among the biggest issues facing any couple in a divorce, but especially those who are older, are financial issues. A person's peak earning years may have passed if he or she is in her 60s. When figuring spousal support, this could be a significant issue. There are many other financial concerns that should be understood when beginning the process.

Property division can be simplified by record keeping

Divorce is a difficult process and marks the end of a partnership that was begun with the belief that the partnership would last a lifetime in New Jersey. When a marriage ends after several years the issue of property division can become one that is fraught with emotion, and those emotions can make the issue that much more difficult to resolve. This can be particularly true when attempting to resolve issues regarding property division and the definition of marital property versus separate property. Real estate is frequently the largest asset held by a couple.

Marital property is typically considered to consist of debts and assets that were accrued during the marriage. Separate property usually refers to property a person acquired prior to the marriage. A recent case involved the question of real estate ownership before and during a marriage.

Prenuptial agreement can protect business in divorce

Small business plays a significant role in the economy of New Jersey and around the country. Many of these companies are started by people prior to marriage as many are waiting until later to marry. While the divorce rate does appear to be on the decline, there is still a significant risk of one's marriage ending in divorce. In the event that this happens, what becomes of the business?

Prenuptial agreements can be a powerful tool in protecting a business in the event of a divorce. While a business founded prior to marriage is not automatically marital property and so subject to asset distribution, a contribution by the spouse to the perceived value of the business can turn the business into marital property. Courts typically rule that contested property is marital property.

Fathers will want to keep these things in mind if they divorce

Navigating divorce in New Jersey or any other state is never easy, especially if you happen to be a father and your spouse is intent on causing as many problems as possible regarding child custody, visitation, child support and property division. The good news is that the days are gone when people logically assumed that children fare best in the sole custody of their mothers after divorce. Divorcing your spouse doesn't mean you wish to abdicate your role or responsibilities as a parent.

As a concerned parent, you might find it helpful to talk to friends or family members who have been through similar experiences. Sage advice from trusted loved ones and confidants can often mean the difference between getting through a divorce with minimum stress or becoming entangled in a highly contentious court battle.

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