Financial aspects of divorce include asset division, alimony

When going through a marital separation, spouses often find the financial aspect of this type of family law proceeding to be overwhelming. Divorce-related financial issues may be particularly stressful for those who fail to address them. A few tips may help with navigating these issues in New Jersey.

A major aspect of a divorce proceeding is the division of assets. Identifying what property must be split between the two spouses early on is critical. This includes any property that the spouses accrued over the course of their marriage. This marital property is different from property that a spouse had before entering the marriage, known as separate property, or even an inheritance or monetary gift received during the marriage.

Another important consideration during divorce is alimony. The spouse who earned more than the other one may be required to pay alimony, or spousal support, to the lower-earning spouse following their divorce. This is especially true if the spouse who earned less chose to stay home to take care of the children while the other spouse was able to maintain a career.

The financial aspect of a divorce proceeding in New Jersey is multifaceted, with many financial decisions having to be made before two spouses can go their separate ways. It is within one's rights to pursue a fair share of assets as well as alimony depending on the circumstances surrounding the marital split-up. An attorney can help to ensure that one's best interests are considered during every stage of the divorce process.

Source: newsmax.com, "4 Financial Musts When Planning Divorce", Jacqueline Newman, Oct. 19, 2017

No Comments

Leave a comment
Comment Information
Email Us For a Response

Get The Help You Need

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

Linwood Office
616 W. Ocean Heights Avenue
Linwood, NJ 08221

Phone: 609-457-0922
Phone: 609-926-7700
Fax: 609-926-1848
Map & Directions

By Appointment Only
1011 Atlantic Avenue
Beach Haven, NJ 08008

Map & Directions

Atlantic City Office
2428 Atlantic Avenue
Atlantic City, NJ 08401

Map & Directions

Vineland Office
1055 E. Landis Avenue
Vineland, NJ 08360

Map & Directions

Marlton Office
30 S. Maple Avenue
Marlton, NJ 08053

Map & Directions