A divorce may end your marriage, but it does not always sever your financial ties to a former spouse. If your ex-spouse carries debt from the marriage, you may wonder whether creditors can still come after you for payment long after the divorce is final. How does New...
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Property Division
What happens to a shared mortgage during a divorce?
Divorce can inspire many abrupt financial changes. The income that previously supported one house may have to cover costs at two separate residences. Spouses have to pay for lawyers and work out arrangements to divide their property. If they own a home together, the...
What happens to an engagement ring in a New Jersey divorce?
Dividing assets can be a very challenging part of a New Jersey divorce. Married couples frequently disagree about what assets they have to divide and the most appropriate way to do so. Particularly in high-asset marriages, there can be many reasons for spouses to...
What happens to a small business when its owners divorce?
Opening and building a small business takes a lot of work. When a couple does this together, they both have an interest in what happens to the business. If a company’s owners decide to divorce, one of the main decisions they have to make concerns the fate of the...
3 debts only one spouse may be required to repay post-divorce
Many people who are preparing for divorce in New Jersey worry about both their resources and financial obligations. The equitable distribution statute on record in the Garden State requires that the courts fairly split both assets and debts between both spouses in the...
What happens to the art collection in a divorce?
Couples seeking a divorce in New Jersey have built entire lives together that suddenly have to be separated. Bank accounts and investments are easy to split, but what happens to material items like pieces of art? A lot of times, that depends entirely on how much it is...
What happens to credit card debt in a New Jersey divorce?
The division of debt during a divorce often becomes one of the most acrimonious disagreements couples face. Divorcing spouses may particularly fear being forced to pay credit card debt accrued by the other spouse. The law in New Jersey may hold you responsible for...
Dividing assets and liabilities in divorce
The decision to divorce inevitably brings a host of challenges and difficult emotions, but it is crucial for estranged New Jersey couples to take deliberate steps to ensure their individual financial security going forward. By heeding some key advice about how to...
How is marital property divided in New Jersey?
Marital property in New Jersey refers to any property that’s acquired by the couple during the marriage. It can be exciting to purchase homes and cars with your spouse when you first get married, but it can be hard to decide what happens with that property in a...
Avoid these property division mistakes in divorce
If you've decided to get a divorce, you know that you'll have to make major decisions for yourself and your children. For instance, you'll need to decide if you're going to move to another home and take a detailed look at your debts to determine what you owe. In New...