Law Offices of David T. Garnes, LLC

Schedule Your Free Consultation

(856)324-4593 | (267)838-9713

contact Menu

Financial understanding can reduce stress that can end in divorce

Embarking on a marriage is one of the most exciting times in a young couple's life in New Jersey. They are full of hope for the future and what they anticipate to be a long and loving relationship. While the divorce rate among young couples is down, there is still almost a 50% chance of a marriage ending in divorce. For this reason, couples may want to take certain steps and consider certain financial issues prior to getting married.

Planning for the potential of a separate financial future can reduce some of the financial stress that can lead to divorce. When both parties are familiar with each other's finances and determine to remain open and honest about finances going forward, it can make for a more trusting and solid foundation to the marriage. One area to pay close attention to involves the finances of each partner prior to the marriage.

If a person brings a significant financial asset into the marriage and later wants to prove that it is not a marital asset, records proving that may be required. Banks and other financial institutions may not have access to records going back further than seven years. In addition, if funds from the asset were used to benefit both partners, such as paying a mortgage, the asset may be deemed a marital asset and subject to asset distribution.

A couple planning on getting married may wish to look into protecting certain financial assets. This can be accomplished by setting up a prenuptial agreement in part to protect the couple in the event of a divorce. A family law professional in New Jersey can council a young couple on the details of such an agreement and help them to establish a firm financial understanding as they enter their life together.

No Comments

Leave a comment
Comment Information
  • Excellent Attorney
    ratings

    “I have used David Garnes on many occasions for multiple matters. He has assisted me for about 4 years and I will continue to seek his counsel as the need arise. His office is both very professional and attentive.”

    Matthew R. 2/12/15
  • I highly recommend Mr. Garnes
    ratings

    “Mr. Garnes was such an amazing attorney, and he has an amazing staff! Mr. Garnes was truly there for me during my time of need. He truly gets the job done, and was available for me on both nights and weekends! ”

    B B. 2/12/15
  • Awesome
    ratings

    “ Mr. Garnes was just great. He help change my life for the better. Thanks again”

    B B. 2/12/15
Email Us For a Response

How can we help you?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

map-direction

Cherry Hill Office
3 Executive Campus
2370 Marlton Pike West
Suite 255
Cherry Hill, NJ 08002

Phone: 856-324-4593
Fax: 856-282-1159
Map & Directions

Philadelphia Office
One Liberty Place
1650 Market Street
36th Floor
Philadelphia, PA 19103

Phone: 267-838-9713
Philadelphia Law Office Map

map-direction
Review Us
map map