Many New Jersey couples treat their pets as part of the family, which may lead to complications during a divorce. When a couple decides to split up, it may not be clear who should get custody of the pets. While the letter of the law may view a pet as property in terms of asset division, the reality of the situation may be more like a child custody battle in terms of the emotions involved.
New Jersey is one of the most expensive U.S. states to live in. It comes as no surprise then when couples fight over the assets they have acquired together during a marriage. According to CNBC, millennials are not only marrying later, but showing a greater propensity toward maintaining separate assets. About 28% of married millennials do not have a joint bank account. This more than doubles how many Gen Xers and Baby Boomers keep their bank accounts separate after marriage.
If you are considering divorce in New Jersey, you may be preparing for huge changes. Creating a parenting plan and deciding who gets the television, custom bedroom set and investment accounts. Even if the proceedings are generally amicable, it is still a stressful time. Carolann M. Aschoff, P.C., works with clients to ensure equitable property division for the best possible outcome.
Divorce can be especially hard for some couples, including those who have kids and cannot agree on which custody outcome would serve their best interests and those with a high net worth. For some people, the division of marital property is particularly challenging for a multitude of reasons. Aside from the financial ramifications of property distribution, this facet of the divorce process can also have a significant emotional toll as well. In this post, we will look into some of the emotional hurdles that people may have to work through due to the division of marital property.
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.