Divorce is a difficult process for those involved, as the many changes that come with divorce can be a difficult adjustment. If not handled properly, divorce can can wreak havoc on emotions and that, in turn, can result in financial mistakes. However, if New Jersey residents follow a few simple steps, their divorce could be accomplished with a minimum of stress and in a manner that results in a comprehensive and fair settlement.
When a marriage ends, the resulting property division process can be devastating to one’s personal finances. When a couple owns a business, the result can be the destruction of that entity, which is a negative result for all involved. For those in New Jersey who share the goal of preserving their business, a collaborative divorce may offer a good solution.
Divorce can be a long complicated process, and the more confusing the process is, the more emotionally painful it can be for those involved. Many Americans are often not well-informed about certain regulations surrounding divorce in their states, which can often complicate things further. However, with some research, most individuals can find the necessary laws surrounding divorce so that they are well-informed. Hopefully, many New Jersey residents will do their research before jumping into a divorce and minimize the pain that is caused.
Ultimately, divorce is the only option for some couples, but few fully understand how the end of their marriage can affect certain aspects of their life. Hundreds of individuals in New Jersey are unaware of the potential impact of certain financial repercussions of divorce proceedings. For example, Social Security benefits can play into an individual's divorce planning, and can help a spouse achieve financial stability in the years to come.
New Jersey residents may have heard media coverage of a company that seeks to ease the divorce process for certain high-asset clients. BBL Churchill has identified a niche market in the lending world, and is positioned to fill that void with a specialized form of litigation lending. Those who are approaching a divorce filing but unsure how to cover their legal expenses may want to read further to see if this form of lending may offer a solution.
Many New Jersey spouses look back at the whirlwind of wedding preparations that consumes the weeks and months leading up to the event and wish that they had made the time to address financial concerns before tying the knot. While once primarily the domain of the rich and famous, prenuptial agreements are now considered to be savvy insurance against the risk of divorce by couples across the socioeconomic scale. The financial benefits associated with a prenup are widely acknowledged, and the topic is no longer taboo between engaged couples.
When a New Jersey resident is considering a second or subsequent marriage, the issues before him or her are different than those faced the first time around. In many cases, people who are tying the knot a second time have far more assets than they did when they entered their first marriage. In addition, when one or both partners have children from a previous union, there is a need to protect assets that should be passed to those children. While no one enters into a marriage already planning for a divorce, taking the time to create a fair and reasonable prenuptial agreement is a savvy move, even if the document is never needed.
Decades ago it was a foregone conclusion that the wife would stay home with the children and take care of the house while the husband went to work to earn the money. If a couple got a divorce, it was the man who paid alimony to his wife since she stayed at home. New Jersey couples understand that nowadays, it's not so cut and dry.
When a couple in New Jersey decides to end their marriage in divorce, they most often enter into negotiations to resolve a host of issues. Among other things, these discussions are intended to reach an agreement to divide the assets that a couple has obtained during a marriage. If former spouses are unable to agree, the court can be asked to make the final division decisions in a divorce.
Gray divorces have been in the news quite a bit these days. Research now shows one person out of four currently involved in a divorce is likely to be older than 50. These numbers are a significant increase from three decades ago, when the number of older Americans getting divorced was less than one out of 10. Divorce can be expensive, especially when couples cannot agree on a property settlement. For older New Jersey residents, it can impact their retirement savings, potentially placing them in danger of financial problems at the same time they should be able to begin enjoying life without work.