Somerville Family Law Blog

It can be difficult to predict certain changes in life and, in some cases, to prepare for them. A change in circumstances can prompt for a person to move to a different area, and for some, this could be a simple process. However, for parents in New Jersey who have an existing child custody agreement in place, attempting to relocate could be somewhat more challenging.

In some cases, a person may be able to negotiate a change to the current arrangement with the other parent. However, a proposed relocation could also be met with opposition, which could result in a need for a court hearing. Prior to deciding to enter child custody proceedings, each parent may find it beneficial to set aside personal feelings and consider whether the move could be in the best interests of the child.

When it comes to the end of a marriage, property division can be a complex process, regardless of the value of assets involved. However, business owners may face additional concerns during divorce, as they may be uncertain how the outcome of the situation will impact the future of the company. Business owners in New Jersey who wish to protect their enterprises throughout divorce may find it beneficial to consult with an experienced attorney for guidance early in the process.

The first step in protecting a business during divorce is to determine whether the company is marital or separate property. A business that is started prior to marriage may retain its separate identity, provided it isn't co-mingled with marital assets in any way. However, should the company increase in value during marriage, the amount of the increase might be considered marital property. In addition, should the other spouse take an active role in the success of the company, he or she may be entitled to a portion thereof during divorce proceedings.

Many individuals in New Jersey and elsewhere consider it essential to plan for certain stages of life. However, while forming a strategy for retirement might mean preparing for certain possible life changes, the end of a marriage might not be a scenario that is given much thought. While this can be an emotional process regardless of age, those who are closing in on retirement may wonder how a divorce will affect them, and how they can safeguard their financial futures.

Although a divorce might not necessarily derail a person's retirement plans entirely, the division of assets will likely have an effect on his or her life. However, there may be certain programs that can help soften the impact, and individuals who have reached a certain age may be able to adjust work-related contributions to their retirement accounts. In some cases, one may have to put off retirement for a year or two, and while this might not be preferable, it could be the best route to take.

Individuals in New Jersey and elsewhere who are going through the end of a marriage may face a variety of difficult decisions, some of which could have a significant impact on their lives. The division of property is a major area of focus for many who wish to safeguard their financial future. Since a substantial portion of a couple's wealth could be tied up in the family home, those facing divorce may find it essential to seek guidance on the available options concerning this asset.

When it comes to the family home, a person may only have a few available options to consider during a divorce. One option is to sell the home and split the proceeds, which could be the best option for everyone involved. However, in some cases, a person may grow attached to the home, or it may hold a certain level of sentimental value. If kids are involved, allowing them to remain in a familiar environment may also hold some appeal.