Women in New Jersey who own their own business may be frightened at the prospect of losing part or all of it in a divorce. If the business experiences growth during the marriage, it could be considered to be marital property. This means that it would be subject to division in the divorce. Women may wonder what they can do to protect their business in case they get divorced in the future.
A divorce specialist may be helpful to some couples or individuals in New Jersey. This is a professional who has a background in areas specific to divorce, such as how to divide complex investments and the details associated with closely held business interests or private equity holdings. This knowledge can complement that of other professionals, such as an attorney and a financial advisor.
With all of the different elements of your divorce case in Jersey City that you have to worry about, you may think that knowing what day your marital assets will officially be valued may not be one of them. Yet when dealing with property division, you will want to know all the you can to ensure that you are not taken advantage of. A valuation date may seem like a mundane detail if you do not also consider the potential for appreciation (or depreciation) that your marital assets present.
A 401k is meant to provide an additional means of financial support during your retirement. Yet what happens if you and the person that you had planned to spend your years in retirement with divorce? Many who come to see our team here at Carolann M. Aschoff, P.C. from Jersey City are surprised to learn that a 401k is considered a marital asset. Yet given that the contributions made to it come from one's income, the fact that those contributions made during a marriage are viewed as marital assets is understandable.
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.
Those who have a very high net worth may have a more complex divorce for various reasons, especially those which are financial in nature. With that being said, the end of a marriage can also be tricky for those moving forward with a high asset divorce due to public attention. Sometimes, people in this position have to deal with a high-profile divorce that is highly publicized in newspapers, magazines, social media platforms and countless websites. It is vital to approach your divorce properly if you expect to face some of these challenges. At our New Jersey law office, we are well aware of the hurdles that some couples experience in this regard.
We know that for any couple, divorce can be tough, regardless of their financial circumstances. With this being said, some couples have it especially hard when they decide to bring their marriage to an end. Not only do couples who have children sometimes have difficulties during divorce (child support payments, custody disputes, etc.), but the financial considerations concerning the divorce process can be particularly tough for those with a high net worth. If you are preparing for a high asset divorce, it is vital to go over the ins and outs of how this major change could affect you financially.
You and your spouse have quite a bit of personal property in New Jersey that you have spent a pretty penny on over the years. Now that you are divorcing, you have each made a list of the items that you particularly want, and fortunately, these don't overlap much.