< New Jersey Family Law Blog | Carolann M. Aschoff, P.C.
Carolann M. Aschoff, P.C.
WEST CALDWELL
973-200-4892
JERSEY CITY & BAYONNE
201-793-7739

New Jersey Family Law Blog

Divorce, alimony and job loss

If you are getting ready to file for a divorce, or you are already in the middle of one, you could have a number of concerns. For example, you might be worried about what will happen with regard to child custody or you could be stressed out about adjusting to single life. However, the financial side of divorce must be given special attention, and there are many ways in which your finances could be impacted by your marriage coming to an end. Moreover, some people are facing other financial struggles in life, such as those who have lost their job, which can add to their divorce-related financial stress.

If you have already split up with your spouse and recently lost your job, you may have concerns about your ability to continue paying alimony. If so, you should look into the possibility of modifying your spousal support. On the other hand, perhaps you have not even filed for a divorce yet, or maybe you are still working but you know that you will be out of work in the near future. Under these circumstances, it is crucial to prepare for what lies ahead and do what you can to financially brace yourself.

How will alimony tax law changes affect your divorce case?

Many people have considered alimony a negotiation tool during divorce cases for decades. Though a person may have cringed at the thought of having to continue supporting an ex-spouse, the paying individual may still have appreciated the ability to deduct those payments come tax time. However, now that 2019 is underway, that ability no longer exists.

You have likely heard that tax law changes were coming into effect that would affect alimony in New Jersey and across the country. You may not have known exactly how or even if it would affect your divorce outcomes. Gaining information on the changes may help you gain a better idea of what you could face if the court awards alimony in your case.

New Year’s resolutions and family law

Every year, many people focus on improving their lives in the new year, whether they want to eat healthier, get more exercise or accomplish some other type of goal (such as something related to their career). However, some people may have New Year’s resolutions regarding their divorce or other family law issues. For example, someone may make a resolution that they will stay caught up on their child support in the new year or find the courage to handle some stressful family law matter that they have been pushing off.

The new year can be a great time for people to change their lives and find a fresh start. As with any resolution, however, some people give up later on in the year. It is crucial to stay focused and even if you do not pay much attention to New Year’s resolutions, you should still look for ways to properly handle any family law matters that you are facing.

Mediation and social media

A wide range of considerations may come into play for those who are going through a divorce, including deciding which approach is appropriate. Many couples opt for divorce mediation and there are a number of reasons why mediation is advantageous. For example, mediation can save time and money for both parties, as we have written about on this blog. However, other factors may need to be reviewed even if you and your partner have already agreed that mediation is best. For example, your social media activity may need to be considered, especially if you and your spouse are trying to work together to end your marriage in a more amicable manner.

First of all, the type of information that you share online can have an impact on your divorce in different ways. Moreover, if you notice that your spouse is sharing certain types of information that you believe should be kept private, or certain details about you that are untrue and harming your reputation, you may need to take further action. In some instances, mediation is not a viable option because a couple cannot come to an agreement.

Detailing the different types of alimony in New Jersey

Like many of the clients in Jersey City that our team here at Carolann M Aschoff PC has worked with in the past, you may be going in to your divorce proceedings concerned about how much you might be required to pay in alimony. These fears are natural, particularly if you were the primary wage-earner in your home. And while you might not have an issue providing your ex-spouse with some degree of financial assistance until they are fully capable of supporting themselves, you certainly do not want to be faced with an alimony obligation that put an excess burden on you. 

Fortunately, alimony is typically not meant to be a long-term source of income. Rather, it is only required while your ex-spouse is not able to afford the standard of living you enjoyed while married. To ensure that this purpose is met, the state actually chooses from four different types of alimony when it is included as part of a divorce settlement. According to Section 34-23 of New Jersey's state statutes, these types are: 

  • Reimbursement alimony
  • Rehabilitative alimony
  • Limited duration alimony
  • Open durational alimony

The financial and emotional perks of mediation

Couples often have all sorts of options on the table when they split up and no two divorces are the same. For example, a couple who has significant assets and children may approach divorce from a very different perspective than a couple with modest financial resources and no children. Some divorces are very contentious and inevitably lead to bitter disputes in the courtroom. However, divorce does not have to be a difficult and emotionally draining process. Some couples work through their divorce with a mediator and there are a number of advantages to mediation, from a financial and emotional point of view.

First of all, mediation takes a different approach to the divorce process. Mediation is a constructive process which enables couples to work together as opposed to litigation, where couples often find themselves head to head. This can significantly reduce the emotional toll of a divorce and this is very important if you have kids. Moreover, the financial perks of mediation should not be ignored either. Instead of costly courtroom action that can drag on, mediation helps couples save money and time.

Creating a parenting agreement may help to reduce conflict

You and your spouse have decided to get divorced, and you look forward to moving on with your separate lives in the future. The problem is, you have young children, too. Who will end up receiving custody of them?

The good news is that the matter of child custody does not have to become a source of major conflict between you and your future ex-spouse. Instead, you can work together to resolve this matter outside of court and produce a parenting agreement, thus avoiding having to proceed to trial.

How can I protect my business when getting a divorce?

As a Jersey City business owner, you’d do anything to protect your enterprise. This includes safeguarding your business from divorce, which is unfortunately a very real possibility for many couples out there. Inc. explains a few of the options available to entrepreneurs to ensure their businesses stay intact when faced with divorce proceedings.

All business owners should have a solid premarital agreement in place before getting married. While it can be difficult to broach the topic with the person you love, it’s essential to have tough conversations about finances well before your nuptials. A premarital agreement will explicitly state who owns what going into a marriage, which prevents your spouse from claiming ownership in your business should you divorce.

The basics of property division

When New Jersey couples get divorced, they usually need to discuss how they will divide their property. This process can quickly become complicated, so it is important for people to understand basic facts about property division.

Most of the time, people can divide their property into two categories. According to FindLaw, these categories are separate property and community property. Separate property typically includes all of the assets that belong to only one spouse, such as an inheritance or a pension. This also includes property that one person owned before getting married. Assets purchased by a couple are usually considered community property. This may include debt as well as physical belongings. If one spouse helped the other buy property before they were married, this property may be considered community property. Additionally, a business run by one person might be viewed as community property if is supported by joint funds.

Child custody and Halloween

For parents, child custody issues can be one of the more challenging aspects of family law. These cases often involve strong emotions and may also lead to a great deal of stress. After all, the well-being of a child is more important than other divorce issues. Parents face various challenges due to custody issues, especially during holidays. Moreover, some holidays, such as Halloween, can be especially tricky.

Often, Halloween falls on weekdays, which means that kids are in school during the day and this can also affect custody schedules. Parents may want to set up a schedule for Halloween and talk with each other about the holiday (although this is not possible in every case). For example, if one parent cares very deeply about trick-or-treating with their child and spending time with them on Halloween, and the other parent does not celebrate the holiday, this may need to be considered when deciding who the child will stay with during the holiday.

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