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.
When a New Jersey marriage comes to an end, the parties are often concerned about their future financial situations when they become single. In many cases, one of the spouses has forsaken a career to stay at home and take care of raising the children and other household duties because the other spouse had a high-paying job. You might be finding yourself in this type of situation and facing a high-asset divorce with all of the complexities that it entails.
According to the National Center for Family & Marriage Research, the divorce rate among Americans over 50 has doubled since 1990. This is in spite of data that shows that divorce rates have dropped for younger Americans. Divorce later in life tends to have a major effect on one's ability to retire.
New Jersey parents who have set up college funds for their children might be concerned about preserving those funds for their children after the divorce. The beneficiary on a custodial account cannot be changed, but if the account is a regular 529 or a Coverdell ESA, then a former spouse could change the beneficiary to their children from a new relationship. However, a provision in the separation agreement can prohibit this.
New Jersey couples who are ending their marriages may have a great deal of property to divide, including a business that is owned by one or both parties. The first step in dividing a business is to find out how much it is worth. This can be done by getting either a full valuation or a calculation of value.
People in New Jersey whose marriages last at least 10 years might also be able to draw on their former spouse's Social Security benefits after retirement. If they remarry, they might forfeit these benefits, but not always. If the former spouse is deceased, the remarriage happened after the person was 60 and the ex-spouse's benefits are higher than remarried partner's own benefits, then the person may draw on those benefits.
Tabloid readers in New Jersey and around the country may have felt that they were in for an eventful few months when Amber Heard filed for divorce from Johnny Depp after just 15 months of marriage. A-list breakups are often replete with salacious accusations, bitter custody feuds and acrimonious property division negotiations, but some observers feel that Depp and Heard will provide gossip aficionados with none of these things.
New Jersey residents have probably seen headlines about the divorce of Johnny Depp and Amber Heard. After 15 months of marriage, Heard filed for divorce from Depp on May 23. Shortly afterward, Heard petitioned for a temporary restraining order that she was granted. Heard has also made domestic violence accusations against Depp.