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Clark New Jersey Family Law Blog

A gray divorce and retiring strong: Can you do both?

Divorce will certainly bring changes to your life, but what these changes mean for you depends on various factors unique to your individual circumstances. One significant factor is your age and how close you are to retirement age. When adults age 55 and up divorce, it can have a dramatic effect on retirement savings and plans for the future.

Gray divorce is a term given to divorces involving people who are over 55 and approaching retirement. With less time to recover financially, the end of a marriage can devastate long-term savings and a person's hope for his or her golden years. Thankfully, there are things you can do to protect your interests and secure terms that allow you to move forward into your future with confidence.

Family law and alimony for marriages shorter than 20 years

When there is a New Jersey divorce, one of the common issues that must be addressed is whether alimony (also referred to as spousal support) will be paid and for how long. This can be the foundation for dispute as the paying former spouse might want to limit the amount and duration, while the receiving former spouse will have justifications for the opposite. To adequately handle these concerns, it is wise to have a basic understanding of what state law says about certain factors and to have legal advice.

For marriages that lasted fewer than 20 years, the courts will only allow alimony to go beyond the length of the marriage in extraordinary circumstances. Otherwise, it will be limited. There are certain considerations that will be part of the process. In addition to these statutory factors, there are practical considerations that the court will account for including the parties living separately, living expenses, and maintaining a standard of living comparable to what they had during the marriage. Knowing those exceptional circumstances that the court uses to decide if the alimony should deviate from the basic rule is key.

Celebrities can struggle emotionally after divorce, too

When you think about divorce, what are some thoughts that first come to mind? The truth is that every divorce is different, but it's likely all couples involved in a divorce will cycle through the full range of emotions at some point in the process. When we look at people in the public eye, like celebrities, they may all appear to handle it effortlessly. It's possible that this could be some couples' experience, but the opposite can also be true.

One such celebrity is speaking out after her divorce with star Channing Tatum. She speaks about the profound loss she felt, how she thought she would be making emotional progress only to fall back down into a negative spiral of emotions and how she doubted if anything was 'real' in her life. Infidelity was alleged on behalf of her ex and she admitted she struggled emotionally with learning that information as well.

Child custody basics and the solution that fits your family

If you share parenting responsibilities with your child's other parent, you know that it takes a team effort to do so effectively. Whether you are going through a divorce or have always been separated, you may need to make a change to your child custody arrangement. So, what can one expect when looking at the child custody process? The answer is that it's different for every family.

When looking at different custody arrangements, it's important to understand that there are two different types of child custody, physical custody and legal custody. A parent may be granted one, both or neither of the types. Physical custody has to do with the actual residence of the child, and where they spend most of their time. Legal custody decisions deal with bigger picture ideas, such as those concerning the education or religious upbringing of the child.

Helping you address domestic violence during a divorce

No relationship is perfect. Whether it is between spouses, partners, parent and child or even siblings, disagreements and disputes are natural occurrences in these types of relationships. Unfortunately, some of these arguments get heated. This can result in physical altercation or act of domestic violence. And in cases where these acts occurred between a married couple in New Jersey and elsewhere, the victim of this type of abuse has the ability and right to take action to hold the other spouse accountable.

Divorces can be messy, and when there are allegations of domestic violence, the entire process can get even more complex and emotional. This is especially true when children are involved. At the Law Office of Robert Ricci, Jr., our attorneys are sensitive to this situation, and our goal is to ensure our clients in Union County are well informed of their rights and understand what options they have.

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.

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