The first thing we need to look at is what is a stock option? A stock option is the right to buy stock in a company who employs the spouse at a discounted or fixed price within a certain period of time. Stock options can be valuable and they’re subject to equitable distribution as a […]
Financial Issues
How are business assets divided during a divorce in New Jersey?
There is no set formula to divide a business. There are many factors that determine what each spouse will receive equitably. If the business is evaluated the supportive non-ownership spouse will likely receive a percentage, but the percentage is subjective to numerous factors including the type of business, tax consequences in the event that the […]
If a couple owns a business, is it necessary to hire a business evaluator?
The first step is to evaluate whether the business is a marital asset or what portion of the business is a marital asset. Was the business gifted to one of the parties before or during the marriage, or has it grown during the marriage? Was a premarital business and the parties invested into it during […]
If spouses co-own a business, how will it be divided on divorce?
Before we talk about parties continuing to co-own the business, we need to identify what kind of business it is. Is it a sole proprietorship? In that case it would not apply because it’s only one owner. But both parties may work in the business. Is it a partnership in which they both own 50 […]
Can someone qualify for social security retirement benefits based on earnings of their ex-spouse?
This is an important aspect of every person’s retirement planning, especially someone who is divorced and did not work. The person who is divorced, so long as they were married ten years to the person that paid into social security, and that person qualifies for social security, then the spouse will receive a portion of […]
Should your fine art or antiques be appraised during divorce?
It works much the same way as the real estate side, although it’s a different group of people that we use to appraise those types of assets. It has to be somebody who has the experience of not only doing the work and being able to prepare a comprehensive report, but to testify, justify their […]
Can the non-employee ex-spouse receive benefits before the employee ex-spouse retires?
It depends on the plan. When I have a defined benefit plan, I write to the plan. Sometimes I can find the plan documents online which is common nowadays. If I can’t find it online, I will write to the plan because it’s good to have the plan document which is going to tell you […]
Do divorcing couples need to get a real estate appraiser if they own multiple properties?
It’s something that I like to make the recommendation for rather than having the client go out and pick somebody out of the Yellow Pages. We have a group of real estate appraisers that we frequently work with here at the firm. These are people that are experienced, they’re licensed by the state, and they’re […]
What’s the difference between a defined benefit and a defined contribution pension plan?
A defined contribution plan and a defined benefit plan are different and they can be identified by the wording of them. For example, a defined benefit plan is this: you don’t know what you’re going to be putting in every week. It might 6 percent of your salary, 6.5 percent of your salary, 7 percent […]
How does an accountant work with divorce attorneys when clients have multiple properties or businesses?
It depends on which side we’re on. If we have a business owner, typically the business will have an accountant that’s involved in helping the business owner prepare the filings and the scheduling for the business. That accountant is almost always made available to me in my representation of the client. If I represent the […]
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