Dealing with unexpected events is a part of life for adults in New Jersey. Sometimes, this event comes in the form of a divorce. If you’re like many older adults going through the gray divorce process, it’s understandable to have questions about your finances going forward.
New Jersey divorce proceedings are based on the equitable distribution of marital property. Before divorce, couples have opportunities to reach mutual agreement on the division of assets in a Matrimonial Early Settlement Panel or economic mediation.
In New Jersey, contributions that you or your spouse made to employer-sponsored 401(k) retirement plans during your marriage count as marital property. To settle your divorce, you must divide the 401(k) funds in either of your accounts labeled as marital property.
You may close all joint credit accounts to have peace of mind that your spouse won’t go on a spending spree or engage in other irresponsible behavior. However, the law usually holds both people in a marriage responsible for debts.
There are plenty of studies out there that indicate that social media often harms marriages. New Jersey residents may not realize that social media often makes divorces even harder than they already are. If you’re dealing with a divorce, remember these social media tips.
Couples in New Jersey opting for divorce might attempt mediation to save on legal expenses. Mediation is a tool used to help couples divide assets and make provisions for their futures apart. Many challenges, such as who gets the house, children or pets, sometimes lead to severe conflict that shuts
A divorce will likely be one of the most challenging experiences in your life. However, it’s important to remember that it will be difficult for your child to deal with as well. Fortunately, there are a number of ways that you can break the news in a manner that is
Divorce is difficult, but it may be the best option in certain circumstances. common reasons for divorce in New Jersey include infidelity, lack of communication, and personal differences. Individuals must consider their own needs and the well-being of their loved ones when deciding whether to end their relationships.
Divorce can be a particularly draining process for New Jersey couples, but even more so if the couple isn’t on the same page. It can be draining to pursue a divorce when one person doesn’t want it.
Even after everything has been said and done in the divorce though,
If you are going through a divorce in New Jersey, you are likely dealing with a lot of difficult decisions, as well as paperwork. In the midst of making decisions about asset division, responsibility for debts and parenting time, it’s easy to overlook the importance of updating your estate plan.
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