Chances are, you did not enter into a New Jersey marriage thinking that it would one day come to an end, but regrettably, many American marriages ultimately end in divorce. If you count yourself among those who sacrificed your career or education so that your spouse can pursue his or hers, or if you have become accustomed to a certain lifestyle during your marriage, you may have cause to seek alimony.
So, how can you determine whether you might be able to get alimony in your New Jersey divorce?
The division of assets in a divorce can be contentious and complicated, even when it is only the family home and retirement accounts at stake. If valuing common assets can lead to disputes, imagine what can happen in a financially complex situation. Stock options are some of the most difficult assets to value and split in a divorce.
As a refresher, some employers grant employees the right to purchase company stock in the future at a set price. This allows the employee to buy the stock at a cheaper price and sell it for a significant profit. If your spouse has stock options, here are some tips for handling these assets during your divorce.
Many people know that divorce has an impact on wealth, but some high asset couples may not realize how much of an impact it can have on retirement. Though the laws of equitable distribution reign supreme in New Jersey divorce cases, when it comes to retirement accounts, the rules on how to split them are not as cut and dried. Some retirement accounts have different parameters that can affect the outcome of a divorce settlement.
Careful consideration of personal and spouse retirement accounts during the divorce process can help to minimize a variety of issues that can create additional financial and tax complications after the ink is dry on the settlement.
All divorces can be complicated, but it is especially a risk when valuable assets are concerned. If you are ending your marriage with complex assets such as businesses, financial interests and properties, you may be in for a tricky and contentious process.
It is vital to be as thoughtful and careful as possible during a high-asset divorce. Significant assets are on the line. There are some common mistakes that people make in these situations that you should avoid at all costs.
In high-asset divorce cases, it is probably human nature for spouses to suspect each other of not being completely upfront about assets. This can be the case when one spouse is financially sophisticated and handles the couple's assets while the other spouse isn't well-versed in financial affairs.
If the divorce is acrimonious, it can be particularly tempting for an angry spouse to squirrel away funds, a process that may have begun long before the other spouse began to suspect the marriage was in trouble.
In the state of New Jersey, the courts use equitable distribution to divide property in a divorce.
It may be beneficial to understand the effects of this type of distribution of property in a New Jersey divorce.
When two people marry, they often share everything. They generally create a joint bank account where both their incomes go. In the event the couple divorces, they will need to divide the money and assets, and when one spouse received a hefty inheritance, it can create problems.
When spouses are not careful, they can lose up to half of the inheritance in a divorce. However, there are steps both people can take to protect the money they receive from an inheritance.
As someone currently embroiled in a New Jersey divorce, you may have suspicions your spouse is less-than-truthful about the current state of his or her financial affairs. Even if you do trust your spouse is being upfront with you about finances, you may have an especially complex financial portfolio you are not sure how to divide.
For these and similar reasons, many divorcing couples enlist the aid of a forensic accountant to help in their divorce cases. At its core, the role of the forensic accountant in a divorce is to take an intensely close look at a couple’s finances, and this may include tracing income or locating missing or hidden assets and liabilities, among related tasks. So, how might you determine whether you need a forensic accountant on your divorce team? You may find it particularly advantageous to hire one if you or your spouse:
Various studies show that children thrive best when they have positive relationships with both parents. After a divorce, maintaining these strong relationships may become tricky for the noncustodial parent; however, it is not impossible.
To gain more quality time with a child, a modification to the custody agreement may be appropriate. When seeking a modification, there are a few things to consider.
With Thanksgiving coming up followed swiftly by the holiday season, year-end anticipation is about to begin for most people. However, the holidays may prove to be less than exciting for shaky marriages, and January is prime time for divorce filings.
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