The dissolution of a marriage in New Jersey is never easy to navigate, and the more wealth a couple has accumulated, the tougher it can be. Unfortunately, some misconceptions related to divorce can make the process even more complicated. A couple of major divorce-related misconceptions involve spousal support and the need to hire an attorney.
Unfortunately, marriage does not always last. Emotional disconnect and individual decisions can quickly cause married couples to decide to get divorced. A couple of tips may help those contemplating divorce in New Jersey.
Getting divorced is one of the most challenging events an adult can experience. Unfortunately, sometimes divorce is inevitable due to irreconcilable differences between spouses. A couple of tips may help with dealing with the financial part of getting divorced, which can be just as complicated as the emotional aspect of a marital split-up.
After 20 or more years of marriage, some couples realize they remain unfulfilled and thus embark on the process of getting divorced. In these situations, which often occur among those who are 50 years and older, funding requirements may become more challenging. A few tips may help with preparing for the financial aspect of a later-in-life divorce, or gray divorce, in New Jersey.
Generally, nobody in New Jersey walks down the aisle with the expectation of later getting divorced. However, unfortunately, sometimes divorce is simply inevitable. Although being emotionally prepared for this type of family law proceeding is important, being financially prepared is just as critical.
Divorce is not exclusive to any particular social group. Whether you are in a low-income bracket or have wealth that puts at or near the top of the income scale, there are economic implications to dissolving your union.
Every New Jersey divorce situation is unique. There are no two individuals alike and when their unions dissolve, the processes required to settle the range of issues -- from temporary support, child custody and support, perhaps even pet custody and support – are exclusively their own. Because of the region we are in – somewhat inland but near the shore – there are couples at all income levels.
There was a time, not too long ago, when the presumption was that if a married couple divorced, the man would be on the hook for paying support, or alimony, to the woman. That model of spousal support was based on the notion that the man typically provided the main source of income to the family. It also didn't assume that the woman should be put into the situation of having to be self-supporting.
Think that your credit is safe from any negative impacts your ex may have on it after divorce? While splitting up can help prevent some financial issues, that doesn't mean your ex can't hurt your credit score.
Divorce laws in the state of New Jersey are not complicated, but for those preparing to file for divorce, a refresher might be a good idea. We have put together a little guide to the divorce laws of New Jersey.