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Clark New Jersey Family Law Blog

What factors determine the amount of your spousal support?

Your divorce will bring significant financial changes to your life. If you earn less money than your spouse, you may have fears regarding what will happen to your finances. You depend on your husband or wife for your income or a majority of your income, and your financial future may seem bleak. 

That is why there is spousal support. The intent of alimony is to address the economic disparity often experienced by the lesser-earning spouse in many divorces. If you are eligible, you are probably wondering how much you can get and how long these payments will last. It could be in your interests to learn more about how courts view spousal support and what factors determine your eligibility.

Young people driving an increase in prenuptial agreements

Preparing for the worst is becoming more popular among younger married couples. Surveyed attorneys have reported a recent increase in prenuptial agreements.

This upsurge was driven by Millennials who have specific reasons for entering into these marital agreements.

Retirement assets and divorce

Ending a marriage is often accompanied by the difficult and sometimes contentious task of dividing the couple's assets, especially assets that were accrued over many years. In a New Jersey divorce, retirement assets may be an important part of property division. Pensions and other retirement assets are usually the highest valued property that that the couple held. These assets are usually more valuable than the couple's house.

New Jersey is an equitable distribution state. Accordingly, pensions and other retirement plans are part of the marriage assets if these were obtained, earned or contributions were made during the couple's marriage. These would be divided equally or fairly during divorce proceedings.

Protecting your wallet after divorce

Ending a marriage may double household expenses because spouses must independently pay for living costs that they shared. Undertaking a divorce should also include financial planning for life after the marriage is over.First, divorce expenses must be managed. Professional invoices should be reviewed, and a spouse should become familiar with the cost and length of this process to anticipate expenses.

Dividing up marital process should be done fairly while considering several factors. This does not merely mean an equal split but should include the liquidity of assets and the expenses set aside for keeping assets such as a house and tax consequences.

Prenups may make business sense

A prenuptial agreement is a contingency plan that couples may not want to use but which can prove invaluable by protecting their individual assets if they ever divorce. These marital agreements may also provide significant protections if either spouse owns a business.

Any property obtained during marriage may be allocated if the couple divorces. Therefore, entering a prenuptial agreement helps establish the value of the business before they wed and protect its premarital value as separate property. Any additional value gained during the couple's marriage may be divided during divorce, however.

What to do if your ex is hiding assets before your divorce

Most people who enter into a marriage do so with the intention of being together for the rest of their lives. As we all know, that doesn't always happen. Some couples who get divorced are able to do so amicably with as few problems as possible, but others are not so fortunate.

Some soon-to-be exes do not want their spouse to have access to all of the marital assets. They may even go so far as to hide these assets from the other person. If you're getting divorced here in New Jersey, and you're suspicious that your spouse could be hiding assets, experts have ways that you may be able to remedy the situation.

When can I stop paying alimony to my ex?

An award of alimony may be made during a New Jersey divorce. Alimony is the payment of money from one party to the other once a marriage has legally ended. For some divorcing couples, alimony is a short-term commitment to help one of the parties get back on their feet. For others, alimony may last for the rest of the recipient's life.

There are several different categories of alimony that New Jersey courts may award. The first is open durational alimony. Under this form of alimony, a recipient may receive financial support from their ex for as long as they need it. Many factors are considered when courts make alimony awards, and a person who cannot work due to illness or injury may be given this type of support if they cannot support themselves.

The benefits of marital agreements

The average age of people getting married in New Jersey has risen, compared to previous generations. There are at least a couple reasons why. Many people are waiting longer in life to get married, compared to previous generations. Others have been married before and are getting married again later in life.

Whatever the specific reason, in the time before they choose to marry, some people may become parents, acquire significant wealth or start their own businesses. With these important things all potentially in existence before getting married, some partners may wish to protect their individual interests in the event that the marriage ends in divorce. Parents may also want to set up secure means of inheritance for children from previous relationships.

How courts decide where children should live

Custody is a major consideration for any parents who choose to go through divorce. And physical custody involves the decision of where a child should live and which parent should be responsible for their day-to-day needs once their parents' marriage has ended. In New Jersey, there are a number of considerations that courts undertake before they make decisions about the physical custody of children.

One consideration that may have bearing on where a child will live is how well they interact with their parents. If a child has a good relationship with one parent and a strained relationship with the other, the court may be more inclined to place the child with the parent who will be more supportive of them. Additionally, children over the age of 12 may be able to assert their own preferences regarding which parent they would prefer to live with in custodial matters.

What is the purpose of a protective order?

Domestic violence affects many victims throughout New Jersey. While some victims may carry the tell-tale signs of abuse on their bodies, others may suffer emotional and psychological harm from their tormentors and may appear perfectly fine to those around them. Both men and women can be victims of domestic violence, and both men and women can be perpetrators of harm on members of their families and households.

It can be hard for a victim of domestic violence to take action to end the pattern of violence in their life, but one option that they may have is to get a protective order issued. A protective order limits the amount of contact a domestic violence perpetrator may have with their victim and imposes penalties on that perpetrator if they violate the orders' terms.

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