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Somerville Family Law Blog

Common concerns of a late life divorce in New Jersey

Many couples in New Jersey and across the United States often put a great deal of thought into the process of ending a marriage. In many cases, the factors that influence such a decision may also differ depending on age. For those who are nearing retirement, there might be additional aspects to consider regarding a divorce later in life, many of which could revolve around financial stability.

Divorce rates among senior citizens have reportedly doubled over the past 30 years, according to recent studies. Although those who are facing a similar situation often face many of the same challenges as any other couple, there may be other areas of concern, including those surrounding retirement assets. These are often complex assets that can be difficult to divide and may even be subject to tax and/or early withdrawal penalties if the proper precautions are not taken.

Child custody: Attempting to do what is best for the kids

Choosing to end a marriage is often a difficult decision, especially if kids are involved. When parents in New Jersey begin to consider child custody, they may also pause to wonder if staying married for the sake of their children might be a better option. However, there are two sides to that coin, each of which could offer its own advantages and disadvantages in the long run.

Continuing in a marriage may provide the kids with stability, as change could disrupt certain areas of their lives, even if only temporarily. This may also provide them with a certain amount of normality regarding family traditions, such as those surrounding holidays and/or vacations. In addition, the financial stability of remaining together may also be a small amount of comfort as well.

Untying the financial knots during divorce in New Jersey

When two individuals in New Jersey or elsewhere are married for a certain amount of time, their finances often end up intertwined as a result. In the event they decide to part ways, untangling these finances can often prove difficult at best. Considering how the process of divorce can impact one's future might be beneficial in the long run, and seeking assistance in making informed decisions throughout this period may be advisable.

Perhaps one of the most significant concerns in many marriages is the family home. With many couples having a great deal of their wealth tied up in their home, the decisions regarding this particular asset will likely have a significant impact on the overall outcome. With only a few options available, a couple may have to weigh the possibilities of either a potential buyout, co-ownership or even selling it outright and splitting the profit.

Potential signs of domestic violence and guidance for its victims

The harm done to those in an abusive relationship can be catastrophic, in some cases leading to long-term or permanent physical and/or emotional damage, or worse. However, many victims of domestic violence may be uncertain that abuse is present within the relationship until it is too late. Individuals in New Jersey and across the country are making constant efforts to inform others of the dangers of abuse, as well as the potential indicating signs.

Many victims may inherently be aware of the danger, especially if physical violence is present. However, they might be uncertain of how to escape a relationship, or even afraid to do so. Sometimes, a victim may even feel as though it isn't a significant issue, and while it may start with a simple slap or shove, such acts of violence may worsen over time.

Dealing with current and future issues re child custody

The decision to dissolve a marriage is often a stressful and challenging one for parents to make. Many parents seek to reach a child custody agreement that is in keeping with the best interests of their kids, but they may worry about how the young ones will be affected in the process. There are certain measures a parent in New Jersey can take during this period that may help their kids deal with the news of divorce with less difficulty.

Once divorce transitions from a possibility to a reality, a parent may want to sit down with his or her kids and explain the decision to them in a way they can understand. Going into detail might not be necessary, but leaving a child to come up with his or her own idea of what is happening could be harmful. In addition to breaking the news, parents might also want to provide their kids with reassurances, as they may often feel as though they are to blame in some way.

The potential highs and lows of going through a divorce

Change can be both exciting and intimidating at the same time. For a major life change such as divorce, a person in New Jersey might be looking forward to opening a new chapter in life while dealing with the potential ramifications of the situation at hand. Although the two may seem conflicting, taking the future into consideration during a stressful and emotional process such as divorce could actually prove to be a crucial step in pursuing the best outcome possible.

The end of a marriage is often fraught with emotional highs and lows. With numerous crucial aspects to cover, it might be easy to feel somewhat overwhelmed by it all. For instance, a person may feel as though he or she has everything under control and that the future is looking brighter every day, but receiving any form of bad news can make it feel as though the world is crashing down.

Financial precautions for the process of divorce in New Jersey

Whenever a person experiences a major life change, his or her financial future could be at stake. One of the more challenging changes an individual in New Jersey may ever face is divorce. The end of a marriage can be both emotionally and financially overwhelming, and the outcome can have a significant impact on what comes next. Those who are in a similar situation might find it advisable to take certain financial precautions that could prove beneficial in the long run.

Throughout the course of marriage, a couple will often accumulate numerous joint assets. If that couple decides to divorce, these assets will likely be subject to property division. Before entering negotiations, a person might want to consider obtaining documentation of current financial standings, as well as keeping a record of marital income and expenses, both of which will prove beneficial throughout the process.

Divorce can be challenging regardless of time spent together

Regardless of the age of those involved, the end of a marriage can be a challenging period. When a couple in New Jersey decides to take the next step, they may fully intend on staying together throughout life. For those who divorce at a young age, there may be numerous misconceptions concerning the challenges a couple could be facing.

At a glance, divorcing after a short period of marriage might seem easier, or perhaps less stressful. With less time spent together, or even the lack of children, there might appear to be less tying the two together. However, most couples still go to the altar with strong emotional ties, and if these ties unravel, the aftermath can be emotionally challenging, regardless of age.

If a spouse remarries, can it impact a child support order?

Following a divorce, whether soon thereafter or even years later, many individuals make the decision to remarry. In some scenarios, the former spouse may be unaware or uninterested in the matter, but for those who have children, there may be some concerns. Individuals in New Jersey who are facing a similar situation may wonder how a remarriage might affect certain areas, such as the existing child support agreement.

Changes in life can cause financial standings to fluctuate, and while a parent may wish to provide for his or her child's every need, they may not want to suffer unnecessarily in the process. A new marriage among either spouse could potentially add a source of income, but this individual generally isn't legally responsible for the child. In most cases, a change to the previous support agreement cannot be sought solely on the grounds of the new marriage.

Financial considerations for a late-life divorce in New Jersey

For individuals who are experiencing the end of a marriage late in life, one of the most significant concerns might be the impact on finances. A person in New Jersey who is nearing the age of retirement could have spent numerous years planning and saving for the occasion. When a person in this situation is facing a divorce, he or she might want to consider available options and reassess previous plans to secure the best financial future possible.

At a later stage in life, the division of property and assets might be the most significant factor for a divorcing couple. With many of these couples having pensions and investment accounts, the process can be complex. If these accounts are marital assets, they will be included in the process, and knowing how this will impact previous plans will probably be beneficial in the long run. If the split will disrupt previous plans, the couple might consider selling larger assets, such as a house, to attempt to balance out potential financial losses.