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Categories for: Finances

Divorce's Implications on Estate Planning in Passaic County, NJ
Posted in: Divorce Estate Planning Family Law Finances Wills

Is It a Good Idea to Change My Will During a Divorce?

April 10, 2023

Divorce Can be a Stressful Time, But It Can Also Provide a Valuable Opportunity to Reassess the Specifics of Your Estate Plan. It is against public policy in the State of New Jersey to disinherit your spouse or ensure that your spouse does not inherit any portion of what you leave behind after you die. Even while your divorce is pending, it is still impossible to change your will in order to protect your estate from your soon-to-be former spouse […]

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How Couples Navigate the Cost of Living Crisis in New Jersey
Posted in: Division of Assets Divorce Family Law Finances Mediation

Financial Strain and Marital Fracture: The Connection

April 5, 2023

The Current Economic and Cost of Living Situation is Impacting Couples’ Decisions, Such as Having Kids, Postponing Marriage, or Getting Divorced in New Jersey It is no surprise that Americans are paying more for just about everything. Inflation was over 9% in June of 2022; by March 2023, it had decreased somewhat.  Stagnant salaries, hiring freezes, layoffs, bankrupt businesses, and outsourcing have weakened earning potential across the board.  College graduates head out into the workforce with anywhere from $120,000 to […]

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Find Out What You Can do to Keep a Good Credit Score During Divorce
Posted in: Divorce Family Law Finances

Safeguarding Your Credit Score in the Event of a Divorce

February 24, 2023

You Can Take a Number of Steps to Preserve Your Credit During the Divorce Process in New Jersey Divorce can potentially affect your credit score, although the exact impact will depend on several factors, including your individual financial situation and the terms of your divorce settlement. If you have joint accounts with your spouse, such as a mortgage or joint credit card, the way the accounts are handled during the divorce can affect your credit score. If the accounts are not […]

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Managing Medical Bills in Divorce in Passaic County, NJ
Posted in: Division of Assets Divorce Equitable Distribution Family Law Finances

Addressing Outstanding Medical Expenses in a NJ Divorce

January 15, 2023

Considerations to Determine How Medical Bills will be Assigned in Divorce in New Jersey In New Jersey divorces, all assets and debts are subject to equitable division, either by the parties’ agreement or by a family law judge if the parties cannot agree. While most parties and judges agree that a debt incurred for the benefit of only one of the spouses during the marriage should go to the party that benefited from it, medical bills are the exception to […]

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Understanding Cryptocurrency Division in a Divorce Context in NJ
Posted in: Division of Assets Divorce Family Law Finances

Cryptocurrency Challenges in Divorce Distribution in New Jersey

November 30, 2022

As Cryptocurrency Gains Popularity, More Divorcing Couples Need to Include it During the Asset Division Process. There are many factors that go into the finalization of a divorce. One of the major procedures that can be the most complex is the distribution of assets. New Jersey is an equitable distribution state, which means that fair division of the couple’s marital assets depends on a number of points, including each partner’s income, earning potential, role in the marriage, age, health, and […]

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