Getting divorced can be a financially complicated process. However, what makes divorce so different from other business transactions is that it can lead to scarring, deep emotions that can be difficult to handle. A couple of tips may help with successfully navigating the emotional and financial aspects of this type of family law proceeding in New Jersey.
Around 2 percent of marital unions end each year. When marital assets in New Jersey include family businesses, divorce proceedings can become especially complicated. How much a value is worth and how much cash flow the business is generating are a couple of matters that are heavily contested in many of these types of divorces.
Getting divorced in New Jersey can be an emotionally and financially tumultuous time no matter how short or long of a time a couple has been married. However, it can be especially stressful the closer a couple is to retirement. Two particular retirement savings vehicles, the IRA and the 401(k), are treated differently during the divorce process.
Going through a marital split-up in New Jersey is never easy no matter how many or few assets a couple has. However, the more assets a couple has -- and the more complex they are -- the greater their chances of running into hurdles during the property division process. Making matters even more complicated is that certain events during a divorce proceeding can cause one's credit score to drop, which can be scary for those who are not prepared for it.
Dissolving a marriage in New Jersey can be a tricky process when the marital home is involved. An imprudent decision regarding the family home can unfortunately have financial consequences that last a long time. Refinancing is often a wise decision when dealing with the marital home during a divorce proceeding for a couple of reasons.
Although falling in love can be so easy, the opposite is true for ending a marriage. The divorce process in New Jersey can be difficult even when the circumstances surrounding the family law proceeding are relatively amicable. A few tips may help with making wise decisions when going through divorce.
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.
When going through a marital split-up, retirement is likely not at the top of the list of priorities in life. After all, focusing on matters such as deciding who keeps the family home or who keeps the children often takes precedence. However, divorce can have a major impact on one's retirement plans down the road as well.
The process of a marital split-up in New Jersey can be harsh due to the mental, emotional and financial toll it can take on both parties. However, making matters even worse is if the couple has to go through a bitter, drawn-out battle at trial. An alternative to going through divorce litigation is to embrace divorce mediation.
Ending a marriage can be both emotionally and financially challenging. This is just as true for those who have been married a few years as it is for those who have been married a few decades. One question that often arises when two spouses are interested in separating before finally getting a divorce in New Jersey is whether they have to file for separation.