Some New Jersey residents may be alerted to the possibility that their spouse is planning to file for divorce by that person's financial actions. For example, one man's wife suddenly decided to put a significant amount of money into a certificate of deposit that only had her name on it. This was money the couple had made on the sale of their home. In addition to the $90,000 from the home, the woman added a $40,000 payout she received after a job loss. The man asked his wife to either add his name to the account or return the amount to their joint accounts, but she did not.
When New Jersey couples get a divorce, they need to be aware of the value and nature of their assets during property division. This means keeping in mind that tax penalties and other considerations may make some assets worth less than their apparent value when compared to others.
If a New Jersey couple is getting a divorce and one or both of them owns a business, it will usually need to be divided along with other shared marital property. A skilled valuation analyst can determine the value of the business so this division can take place.
New Jersey residents who are ending their marriage and have a lot of marital assets to divide might look to the case of Aisha Tyler's divorce settlement as a way to reach an agreement with an ex-spouse without court coercion. The television and movie personality reached a settlement agreement with her ex-husband that both found fair and just.
A Qualified Domestic Relations Order is a necessary document for New Jersey couples who are getting a divorce and need to divide a retirement account. Because it is a complex financial document, they might want to work with a certified divorce financial planner to ensure that they are able to efficiently transfer funds. Without guidance, a QDRO could become costly.
Talking about buyout clauses or separating business assets from marital property are the least romantic things New Jersey couple could think about, but they are often necessary to avoid future headaches such as a case that has been unfolding in Delaware. The case illustrates what could happen in situations when business interests are shared by parties whose relationship is ending.
If you are anticipating a divorce in West Virginia, understanding how property division works helps you avoid surprises and confusion. All marital property, including valuable assets, are subject to equitable distribution. Learn some tips regarding asset distribution and getting through your divorce as smoothly as possible.
New Jersey couples who are ending their marriage and who own a family business may be concerned about how they will protect that business or divide it during a divorce. Having one person buy the other out involves needing to get the business valued, and this can be expensive. Furthermore, neither individual may have access to the cash flow to buy out the other if their assets are largely tied up in the business. Taking out a bank loan or creating a property settlement note might be one solution.
When New Jersey couples decide that it is time to get a divorce, they often focus on the large assets first when it comes to property division negotiations. These assets usually include the family home, any other real estate they may own, cars and expensive furniture. Once tangible items have been divided, splitting cash and hashing out child support or alimony is usually the next step. However, some smaller marital assets can be overlooked, especially if a person does not have a qualified financial adviser on thedivorce team.
When New Jersey couples get divorced, many are concerned about how to divide their financial assets. In addition to retirement accounts, bank accounts and other assets, people should also think about their Social Security benefits.