Before year's end, many people in New Jersey 50 years old and over will be heading to court. Divorce is currently prevalent in this age group. In fact, the national rate has tripled for those 65 and older.
A late-life divorce often has serious financial implications. During a marriage that lasted 20, 30 years or more, a couple is likely to have co-mingled many, if not all, of their assets. When property division proceedings begin, the judge overseeing a particular case will determine a fair means of splitting those assets between spouses. Sadly, many older people say they wound up broke and unable to make ends meet after divorcing later in life.
To avoid such problems, a concerned spouse is wise to seek guidance and support from a financial adviser as well as an experienced family law attorney. Seeking consultation before heading to court is often the best means for protecting one's financial interests. Retirement benefits are a high priority for many older spouses, especially those who decide to legally end a marriage. Even those with solid retirement plans may have to craft new plans so that there are two separate portfolios.
When funds to meet living expenses have been combined in a jointly owned account for decades, it can be quite challenging to establish financial independence after divorce. There are definitely steps a spouse can take even before proceedings begin to organize his or her finances and create a separate financial identity from a spouse. An experienced New Jersey family law attorney can make recommendations and provide strong support throughout the litigation process.
Individuals in New Jersey and across the nation may face a variety of difficult choices upon making the decision to end a marriage. The potential financial ramifications of divorce may leave some seeking out ways to cut down on the costs of the process, such as self-representation. However, dissolving a marriage can be a stressful and complex process and seeking legal counsel could prove imperative to preparing to pursue the most favorable outcome achievable.
The average person may be unaware of the potential importance of being fully aware of New Jersey divorce laws and how they may apply to the situation. As such, obtaining guidance from someone who is knowledgeable in such matters could prove vital to forming a strategy for what comes next. Entering the process without knowledge of laws and courtroom procedures could leave a person at a disadvantage.
These laws and procedures are also subject to change and failure to have awareness of any recent changes could prove detrimental. Another potential concern of self representation lies with the emotional challenges of the process. Since making decisions based on emotions is never advisable, seeking guidance on knowing how to keep emotions in check and remain objective could be vital.
Seeking advice on how best to prepare for the process could prove vital to avoiding potentially costly mistakes during legal proceedings. Those who are facing divorce could find it helpful to speak with an attorney early on for guidance on what to expect from the process. An attorney in New Jersey can address all a client's concerns and wishes and assist in developing a strategy to pursue the best outcome achievable concerning his or her future.
Upon deciding to dissolve a marriage, individuals in New Jersey and elsewhere who have been through a similar life event before may feel they have a better understanding of what to expect. However, when it comes to a second divorce, some of the issues that may arise might not have been present in the previous circumstance. Seeking guidance in understanding the potential concerns of a second divorce could prove imperative to preparing to pursue a favorable outcome.
Studies indicate that second divorces typically occur later in life, and as such, the parties involved could have a great deal more assets on the line. As the pool of assets increases, so may the complexity of reaching an amicable agreement for property division. Experts also indicate that arrangements from a previous divorce such as agreements for child or spousal support could also have an influence on one's current situation.
Child custody is another topic that is often a crucial aspect of divorce. With second divorces, parents may have kids from each marriage and any existing parenting plans could play a role during current negotiations. Studies also indicate that a second divorce could also cause a person to experience a variety of emotions and learning to cope with these feelings could prove essential to preparing to open a new chapter in life.
With a variety of new issues that could arise, those facing a second divorce may find it beneficial to seek guidance early in the process. A person in New Jersey who encounters a similar situation could choose to speak with an attorney early on for advice in understanding what to expect from the process. An attorney can address each of a client's concerns and assist him or her in forming a strategy to pursue the best outcome achievable during subsequent legal proceedings.
Dissolving a marriage can be a stressful and emotional process that could have a substantial impact on the lives of everyone involved. Seeking guidance in what to expect from and how to prepare for divorce proceedings may help a person in New Jersey better prepare to pursue the best outcome achievable during legal proceedings. However, the process might not end once a divorce is finalized, as there may still be steps to take even after a divorce decree is obtained.
Although a divorce decree may depict the manner in which assets will be divided, one may still need to take steps to retitle assets and update account information. With assets such as a home, one might need to obtain a quitclaim deed to change the information on the title of this asset. Since assets such as joint bank accounts typically remain under both names, it may be advisable to close them and open new accounts.
Retirement accounts can be somewhat more complex, and in accounts other than an IRA, obtaining a Qualified Domestic Relations Order may be necessary to divide the assets within. When updating information on existing accounts and estate plans, it may be necessary to review beneficiary information and makes changes where necessary. It may also be advisable to consider changing any passwords to reduce the risk of unauthorized access to digital information.
Taking the necessary steps once a divorce is finalized could prove imperative to protecting one's financial future. However, with a multitude of topics to address, it can also be an intimidating process. Fortunately, there are attorneys who can assist a person in New Jersey in pursuing the most favorable outcome possible during divorce proceedings and provide him or her with guidance on the steps to take once the divorce is finalized.
It is no secret that dissolving a marriage can have an impact on a person's finances. However, some individuals in New Jersey might not be fully aware of how substantial an impact this could be if the necessary measures are not taken. For instance, those facing divorce may find it advisable to take certain steps to protect their credit scores, as failing to do so could prove devastating.
It might not be uncommon for many married couples to make the decision to open up joint banking accounts. Upon deciding to take separate paths in life, addressing these accounts could prove vital, as any activity that shows up on these accounts later on will still show up on one's credit report. Those who are facing divorce may find it advisable to close any joint accounts as soon as possible, as doing so could prevent a potential disaster.
While the same is true for joint debts, a person may also find it advisable to keep watch over marital debts even after a divorce is finalized. The terms in a divorce decree might not sway creditors from seeking repayment from all parties, regardless of which party assumed responsibility for the debt in divorce proceedings. Should the other party fail to keep up with payments on joint debts, the impact it could have on one's credit score could be catastrophic, and awareness of this risk could prove vital to addressing the issue and maintaining financial stability.
Those who wish to gain a better understanding of how to protect their financial futures during a divorce could benefit from obtaining guidance early in the process. By speaking with an attorney, a person in New Jersey could obtain much-needed advice on how to prepare for the subsequent process. This guidance could help place a person in a much better position to pursue the best outcome achievable and protect his or her finances during subsequent divorce proceedings.
There may be a variety of variables that are taken into consideration when it comes to determining the amount and duration of spousal support payments. However, these figures might not always be set in stone, as there are certain scenarios in which it may be possible to pursue modifications to the original agreement. Individuals in New Jersey who have gone through a divorce may find it helpful to better understand the circumstances in which a need for modification may arise.
In some cases, the original agreement for spousal support may include terms dictating the scenarios in which modifications might become necessary. Some of these scenarios may include terms relating to any future increases or decreases to the cost of living. These terms could also address issues such as the possibility of a substantial change in income on the part of either party.
In some cases, a sudden change in circumstance may also trigger the need for a temporary modification to alimony payments. For instance, the loss of employment or sudden onset of a medical condition are two examples of scenarios in which temporary hardships may arise. Should either party move in with another person, the sudden change in financial support may also prompt a need to revisit the original spousal support agreement.
Spousal support can be one of the most highly-contestable matters of divorce. Those who feel that a change in circumstances has prompted a need to revisit the initial agreement may find it helpful to retain the services of a family law attorney early on for assistance in navigating the process. An attorney can assist a client in New Jersey in pursuing the necessary modifications to a spousal support agreement through the proper channels.
These days, it seems that more and more couples in New Jersey are deciding to divorce later in life. In the last 20 years, divorce rates have nearly doubled among adults ages 50 and older in the United States. Late-life divorce, also known as gray divorce, can have unique challenges. Ending a marriage is difficult and stressful at any age, but separating late in life can have drastic effects on physical and mental health.
Not surprisingly, studies have shown that those divorcing later in life have higher rates of anxiety and depression. Psychological distress can lead to a whole host of other health problems. Those who are depressed may stop exercising and become sedentary. Without exercise, things like blood pressure and diabetes can get out of control.
Due to decreased mood, older adults who have divorced may not feel like getting out of the house. It is not uncommon for older adults to isolate themselves. Those who experience late-life divorce are not only losing a spouse, but they may also be losing their primary caregiver. Spouses usually know the most about health issues and, many times, help with doctors appointments and medications.
Some strategies that older divorcees can use to thwart potential problems are avoiding isolation, exercising regularly, adopting a pet and getting professional help. For those in New Jersey contemplating divorce at any stage in life, the most important piece of advice is to seek the services of an experienced attorney. A knowledgeable and skilled legal representative can answer questions and offer guidance for individuals going through this difficult and complicated experience.
Most parents want whatever is best for their children, even if they are no longer in a relationship with the other parent. In certain circumstances, that can mean one parent making child support payments to the other so that their shared children receive the proper care. In New Jersey, some parents may have difficulty making those payments, depending on their exact financial circumstances. There are parents who often fail to honor court-ordered child support agreements, and it can have serious consequences on a child and his or her other parent. This is what one out-of-state attorney general argued when it compelled a famous artist to pay the full amount of past-due child support payments he owed.
The attorney general's office alleges that an artist who has painted several portraits of celebrities and owns multiple homes failed to make proper child support payments. Representatives for the attorney general say that the artist owed almost $29,000 to the mother of his daughter. The two of them reportedly had to make use of state aid in order to make ends meet. The payments hadn't been made in 10 years.
A representative for the attorney general's office stated that they are determined to ensure that vulnerable children are cared for. The representative said that those who are not meeting their responsibility to pay child support will face appropriate consequences as the law allows. The artist in this particular situation earned a great deal of money for his commissioned paintings, and authorities wanted to ensure that his daughter was receiving what he owed to her and her mother.
Though laws vary from state to state, the importance of paying child support is the same across the country. Children have needs, and their parents should be the ones to provide for them. Anyone in New Jersey who is struggling to make their child support payments may be able to request a modification to an existing agreement. Those parents who are not receiving proper payments can also seek assistance from the judicial system. In both cases, parents can look to an experienced family law attorney for guidance.
It may be hard to believe, but there might be a right and a not so right way to end a marriage. There are mistakes New Jersey residents could make during their divorces which could cause even more stress. The first error is not pausing and thinking about the situation and making random decisions without any plans in place. Talking to people who might be able to help, like an attorney and financial planner, may be a good first step if divorce is on the horizon.
Keeping a divorce classy is also a good rule of thumb. No one accomplishes anything by sending hateful text messages, emails or leaving nasty voice messages to a soon-to-be former spouse. Posting anything negative on social media is also ill-advised. It may come back to be an embarrassment and once it's out there, it can't be taken back.
Doing anything rash like quitting a job or buying a new car is also frowned upon as is not preparing financially. Divorce is costly and it often means going from a two-income household to one which can be financially taxing. That doesn't mean settling a divorce in a way that is uncomfortable. Ideally, both partners should leave a marriage feeling like things have been dealt with fairly.
Getting the advice of an experienced New Jersey divorce lawyer may help an individual to make the right decisions for his or her unique circumstances. By getting a general handle on the laws that govern divorce, it's less likely mistakes will be made in the divorce process. A lawyer may also be able to help his or her client reach a fair and binding settlement without the need for formal litigation.
When confronted with a stressful and difficult scenario such as the end of a marriage, it might not be that uncommon for children to act out. Children often have trouble understanding the concept of divorce and they may have trouble dealing with the emotions they experience. Parents in New Jersey who wish to protect their kids throughout this process may find it helpful to gain awareness of the signs that indicate they might be struggling to cope with divorce.
The end of a marriage can be a challenging process for everyone involved. However, such a life event could prove more difficult for children, as they may have trouble understanding what is happening to their lives. Kids may experience a variety of emotions during this period, ranging anywhere from anger and frustration to sadness and confusion, and addressing these issues could prove essential to protecting their well-being.
There are a variety of steps parents can take to keep watch over their children and identify any potential concerns. For instance, opening a dialogue with the other parent and speaking about any potential concerns could be helpful, and talking to teachers and coaches about their behavior could also prove beneficial. Parents may also find it helpful to understand how their own behavior during this time may affect their children and take steps to shield the kids from further harm.
Going through a divorce can be a harrowing experience for everyone involved. Those who wish to protect the well-being of their children may wish to know more about the challenges they may face and how best to meet their needs, and they could choose to consult with an experienced attorney for guidance. An attorney in New Jersey can address all a client's concerns and assist him or her pursuing an amicable and acceptable child custody agreement during legal proceedings.