What does amicable divorce really mean? First, let’s start with what it does not mean. It does not mean you have to be best friends with your spouse while going through the divorce process or give in to them on issues that are most important to you, simply to be cooperative. It does mean that you have to be respectful of each other and be willing to compromise, because you most likely will not get everything you want exactly as you want it when it comes to[ ... ]
People who are divorcing often wonder what the difference is between mediation and arbitration, and which might be right for them. There are both differences and similarities between the two. For example, in mediation, you and your spouse make decisions on the issues yourselves; in arbitration, you present and argue your respective cases like you would a regular trial before an arbitra[ ... ]
Insurance protects you and your spouse financially in various aspects of your life. As a married couple, you and your spouse may have been on a health insurance policy together through one of your employers. You most likely named each other as beneficiaries on your life insurance policies too. If you own a home together, you probably have property insurance to cover potential damage to your home and personal belongings. And, you may have paid less in car insurance wi[ ... ]
Many people think that filling out and filing the complaint with the court is the first step to beginning divorce in New Jersey. This is not necessarily true. When you file, you start the formal process of ending your marriage. But before you get to that point, you can start to plan, get educated, and discuss how your divorce proceeds, the issues involved, and your ideal wishes for resolution. By knowing what you want to get in your divorce and being as prepared as y[ ... ]
Everyone who is divorcing should have a last will and testament as part of their estate plan. It is especially important in a high-net-worth divorce. Without a will, you take a risk that your significant assets will unintentionally go to your soon-to-be ex-spouse rather than to the beneficiaries you want to have them. By not having a will, you can also negatively impact your childre[ ... ]
Just as it has on other areas of your life, divorce will have a significant impact on your estate plans. Wills, trusts, beneficiary designations, powers of attorney, and advance directives are all affected in divorce. Estate plans should be carefully reviewed as changes to all of these will probably be required to protect your interests and those of your loved ones and reflect life going forward without your spouse. Every divorce situation and estate situat[ ... ]
Dividing assets is one of the most trying and complicated issues of divorce for many people. You may have a business, rental properties, retirement savings, and other investments. But what if you have assets held in a trust (or trusts)? What happens to a trust in divorce? The answer is that it depends on the type of trust in question—including whether it is revocable or irrevocable—and whether assets in the trust are considered marital or separate property.[ ... ]
As a person with extensive and complex assets, you have probably put a solid estate plan in place that includes a will to protect your survivors after you die. But how a divorce affects a will is something that people sometimes don’t think about during stressful marriage breakups. They are often too busy worrying about seemingly more immediate things such as dividing assets, how muc[ ... ]
Protecting assets in divorce is usually a major concern of affluent individuals. We understand that you also don’t want to completely lose what you have worked so hard to gain. So how do you protect your assets in a divorce? HAVE A PRENUP OR POSTNUP IN PLACE If you entered into an enforceable prenuptial agreement or postnuptial agreement during marriage, the[ ... ]
Divorce is a private matter that many families desire to keep among themselves to limit those from gossiping about the news, or merely to protect loved ones from the emotional turmoil. Technically, divorces in New Jersey are public records but are not as easy to find and search as you would think. Someone has to be searching for you and would have to go to the Courthouse or have an online account to find the case information. How to Maintain Confidentiality[ ... ]