New Jersey Info
New Jersey Divorce Start Your Divorce Find Professionals New Jersey Articles Divorce Facts Divorce Grounds Residency Divorce Laws Mediation/Counseling Divorce Process Legal Separation Annulments Property Division Alimony Child Custody Child Support Divorce Forms Process Service Grandparent Rights Forum New Jersey Products Divorce by County
New Jersey Articles
Agreements Attorney Relationship Custody & Visitation Child Support Collaborative Law Counseling Divorce/General Domestic Abuse Domestic Partnership Financial Planning Foreign Divorce Mediation Parenting Property Division Spousal Support
Recent Article List
Whether acting as a neutral or an advocate, a qualified CFP(Certified Financial Planner) practitioner can provide invaluable assistance with such issues as budgeting, asset allocation, alimony/child support scenarios and equitable distribution projections.
If you expect to receive alimony and child support from your spouse, you may want to require (in the separation agreement) that your spouse buy a life insurance policy (or keep the existing one in force), naming you as the beneficiary. The policy should be in an amount sufficient to cover the sum of support obligations and property distribution payments contemplated. You could even be named as the owner of the policy insuring your spouse’s life.
By using a CDFA, you can have a clearer view of your financial future. Only then can you approach a legal settlement that fully addresses your financial needs and capabilities.
Insurance companies are able to provide insurance to an employee and his/her family members. An ex-spouse is no longer a family member and eligible for coverage. If you are in the process of getting a divorce then you need to plan for how you will have health insurance once your divorce is finalized.
There are many reasons you should get a will, but once you become a parent you should really get a will. This will allow you to have some say about what would happen to your kids if both parents die, specifically who would become guardians of your kids.
Divorce mediators always have to consider a couple’s retirement assets like pensions, IRAs and 401ks, when helping couples draft a divorce agreement. When older couples get divorced, the importance of retirement assets increases.
In my role as a Financial Professional who holds the CDFA, (Certified Divorce Financial Analyst) designation, I have witnessed the good, bad and ugly when it comes to the impact of unchecked emotions may have in the divorce process.
“Ready, Aim, Fire” is a lot more effective than “Ready, Fire, Aim”, wouldn’t you agree? So preparing for your divorce is not only smart, it is crucial. Decisions you make now or in the heat of the moment, can affect the rest of your life, and in many cases, the lives of your children.
Have you ever been told that you are worth your weight in gold? Well, in a divorce, you are only worth what you can equitably distribute and it all comes down to dollars and cents. One of the hardest things to do is to determine your net worth status as a couple when it comes to a divorce, yet it will give you an idea of where you will end up when the ink is dried.
“It’s not how much you make, it’s how wisely you spend your money...” Whether you are going through a divorce or not, it is good practice to have a working cash flow spreadsheet in hand to have a more accurate grasp on where your money is going.
Giving You the Option to Choose is Always a Good Thing - Creating Scenarios for an Equitable Distribution
Ask anyone who has gone through the college acceptance period of their life... having the option to choose which college they were going to attend was always a luxury to strive for. The same holds true when settling on an equitable distribution in a divorce.
Getting divorced or becoming a widow can leave you with the unfamiliar responsibility of managing your finances. The period of time following a major life change can be difficult, confusing and overwhelming. Don’t rush into making any major decisions, such as selling the house or changing your investment strategy.
Keeping health insurance coverage can often be a primary reason why couples choose NOT to get divorced. One spouse does not want to leave the other spouse high and dry with no insurance coverage, especially if the spouse has a pre-existing condition. What does the Affordable Care Act, aka Obamacare, mean for you and your health insurance if you are considering divorce?
Unfortunately, one of the most overlooked aspects of a divorce is the financial impact that a divorce settlement agreement will have on the litigants’ future subsequent to the finalization of the divorce process. Without question, the divorce process is a very emotional and trying experience.
Most divorcing people actually agree on most issues, but it is best to use some professional help to develop your divorce agreement. A professional divorce mediator can ensure that you are covering the many issues in an efficient and cost-effective manner.
As I write this article most of us are in the process of preparing to file our tax returns. It is also Women’s History Month. As many of you know, I am a big advocate for financial education, particularly for young women.
Welcome to the latest edition of Fiscal Fitness! It’s tax time as I write this. As usual, this is the time of year I come across many "avoidable" financial planning mistakes.
If you bought your house in 2006, 2007 or even 2008, you may not have a choice in this matter as the value of your home may be worth less than you paid for it and that’s another article for another day. But if you bought your house prior to the bubble, and there is some equity in it, first of all, congratulations and second of all, what do you do with it?
Ah April 15th. Tax Day here in the United States. This year we actually get a break as the 15th turns out to be a Sunday but alas, the tax man cometh and there’s not much we can do. But what about taxes and divorce?
Welcome to the latest edition of Fiscal Fitness! As we head into 2012, I reflect on the things that took place in 2011 and think, would things have been different had we done better planning?
Are you on the verge of retirement or about to make a major life change that will affect your financial future? To my surprise, most people wait until a major life event to occur before meeting with a professional to address their estate or retirement planning needs.
Whether you are about to retire, receive a large inheritance or waiting for the ink to dry on a divorce settlement, all the planning you have done over the years is about to change.
One of the four topics we cover in mediation is that of equitable distribution or as its formally known: the equitable distribution of marital assets and liabilities. And while most of the clients enjoy the division of assets, when it comes to diving the debts, thats an entirely different story.
A 529 plan is simply a tax deferred college savings plan. The number 529 refers to the section of the IRS code that has established college savings plans. A 529 plan is a tax-free account that can be established up for the benefit of a child. When the time comes for the child to start attending college, then the money from the plan can be withdrawn.
Mental health professionals I have spoken to say that divorcing a spouse can sometimes be more emotional than losing a spouse to death. Emotions often cloud your decision making which can lead to poor choices when it comes to finances. Making changes to a property settlement agreement is almost impossible. There must be hard proof based on fraud, deceit or a major mistake. In other words, get it right the first time.
Divorce is not easy. Just ask anyone who has been through it. Besides the emotional aspect, the financial impact can be devastating for both sides. How can you financially survive? Having a good understanding of your assets and educating yourself before agreeing to any type of settlement will pay off down the road.
The credit card companies are not interested in how assets, homes, and the bills are divided during a divorce case. Credit card companies have only one objective and that is to be paid! If you have debt in joint credit card debt with your spouse, then you are both legally responsible for paying it back.
If you are considering filing for divorce, then you better be fully knowledgeable of your family’s financial picture. In these very hard economic times, when all of Americas jobs have been shipped to China, it is critically important not to start a divorce with your head in the sand! In short, you cant file your divorce if you are an airhead about your family’s finances!
What’s so important about a number? We’re surrounded by irrelevant numbers every day, but your number is different. Your number is important; it’s the amount of money you’ll need to maintain your lifestyle once you’re divorced.
Divorce Planning is when a spouse plans for divorce months and in some cases years in advance. This spouse will usually talk to a lawyer and get instructions on how to minimize earnings for a significant period of time prior to filing for divorce to avoid or at least reduce child support and alimony obligations.
I am in the midst of a nasty divorce with my husband. My husband is a self-employed builder and I am very hesitant in filing another joint tax return with him this tax year. However, he is insisting that I do so because he will save $10,000 on his taxes. Am I legally obligated to file a joint tax return with my husband now that we are legally separated?
There are two types of credit accounts: individual and joint. You can permit authorized persons to use the account with either. When you apply for credit—whether a charge card or a mortgage loan—you’ll be asked to select one type.
One inexpensive task I recommend that all divorcing couples do early in the divorce process is to check their credit reports to ensure that there are no surprise debts or credit lines.
On August 5, 1997, President Clinton signed the Taxpayer Relief Act of 1997 into law. We suggest that you don’t make any major financial decisions before reading this article and following-up on the particular areas that might impact you. The scope of the legislation encompasses measures ranging from a child care tax credit for low and moderate-income families to new tobacco taxes.
Don’t despair! There have been a number of changes that you should know about because they could result in more dollars in your pockets, or a smaller check to Uncle Sam on April 15, 2000.
In order for permanent alimony to be awarded in New Jersey, the marriage must have lasted at least 10 years and one spouse must have become economically dependent on the other. This type of alimony allows the obligee to maintain the lifestyle to which he or she has become accustomed for the duration of the obligor's lifetime (unless the obligee remarries).
|Women's Rights Manual For Divorce
Cover Price: $
Your Price: $29.95
You Save: $26.00
"The Absolute Best Investment in Your Divorce"
|Men's Rights Manual For Divorce
Cover Price: $
Your Price: $29.95
You Save: $26.00
"Uncover Your Options and Unleash Solutions"
© 1996 - 2020 Divorce Source, Inc. All Rights Reserved.