For purposes of equitable distribution in a New Jersey divorce, marital assets include money and property that spouses acquire either separately or together during marriage, regardless of how property may be titled. Similarly, marital debt includes debt incurred by either or both spouses during marriage, although courts will sometime treat debt that has dissipated marital […]
Financial Issues
How can I keep costs under control in a divorce?
Many clients tend to use their divorce attorney as a counselor rather than as a legal consultant. Attorneys are more than happy to listen to your concerns, but many of those concerns are things over which they have no control. Try not to use your divorce attorney as an emotional counselor as that will increase […]
Why work with a Financial Planner during a Divorce?
In the process of dividing assets during a divorce, many decisions have to be made. Should a distribution from a pension plan be rolled over to an IRA, or taken at this time? Should I try to keep the family residence or let it be sold and invest the funds in a smaller residence? Unless […]
How does getting divorced affect my social security?
The Basics: A person can collect Social Security benefits based on her own earnings history or 50% of her spouse or former spouses’ benefit, if greater than her own. If the spouse or former spouse is deceased, she can typically collect 100% of her spouse’s benefit (i.e. the higher benefit “lives on”). The value […]
How does property division work in California
In California, property is divided according to community property law which means that any property acquired by you or your spouse during marriage will be divided equally between you. However, there are many exceptions and circumstances that affect this basic equal division rule including characterization of property, when debts exceed assets, education loans, personal injury […]
I Am Considering Bankruptcy. Should I File for Divorce First?
I Am Considering Bankruptcy. Should I File for Divorce First? When considering bankruptcy, you may be debating if you should file for divorce first. There are some initial decisions to consider by yourself and some more complicated issues that you may want to discuss with a qualified attorney. Before you are divorced, you and your […]
My spouse and I are not getting along and I’m planning to move out of the home. Is this good idea?
If you are or have been the victim of domestic violence by your spouse, then your safety should be your primary concern. If danger is imminent, leaving the home to protect yourself will not be used against you in subsequent divorce proceedings. If you choose to stay in your home, however, you may be eligible […]
How will I have enough money to survive life after divorce?
Janet Porro, a family lawyer in Pequannock, answers: Support is an important aspect of any matter involving a marriage, partnership or a couple who has had a child together. Child Support Guidelines exist in New Jersey and New York which assist individuals in arriving at a support figure anticipated to cover certain costs as to […]
What will my financial planner need to determine my post-divorce budget?
What information will my finan- cial planner need from me regard- ing figuring out a post divorce bud- get and financial plan that will work for me?
How can I be certain to come out of the divorce as financially sound as possible?
“What are your best tips to be certain I come out of the divorce as financially sound as possible?” Perhaps the most helpful tip in obtaining financial peace of mind pursuant to divorce is taking the time to establish a realistic post-divorce lifestyle budget. Only when you have that in place is it possible to […]
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