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Marlton Family Law Blog

Understanding the implications of a high asset divorce

Everyone knows that a divorce ends a marriage so that the two people involved in the relationship can, hopefully, move on to a better life. However, a divorce is more than just an opportunity to get out of a relationship that isn't living up to expectations. For couples who have considerable wealth, understanding the implications of a high asset divorce is crucial.

Part of putting an end to a marriage is dividing assets and debts. In a high asset divorce, the stakes are high. Couples may have more assets to consider than would be involved in the usual "run-of-the-mill" divorce including, potentially, assets such as artwork, business interests, investment accounts, pensions and even second homes, boats or multiple high-priced vehicles. Each of the soon-to-be ex-spouses may have strong preferences about which assets they keep after the divorce is over.

Are trends shifting in divorce court when it comes to alimony?

Alimony is always a hot-button issue in a divorce in New Jersey. It is fairly obvious to see why: when spouses are getting ready to go their separate ways, one soon-to-be ex-spouse is typically not in favor of continuing to make financial payments to the other spouse after the marriage has ended. However, there are a variety of reasons for why alimony might be awarded in a final divorce decree.

But, are trends shifting in divorce court when it comes to who is ordered to pay alimony? Like child custody and child support orders, in general the answer is probably "yes." Why? Well, American society has changed quite a bit in the last 50 years or so, and that has had an impact on the family unit. In many cases, the days of a husband working while a wife stays at home to take care of children are long gone. These days, it is much more common to see both spouses working outside of the home and, in some cases, the spouses have the same level of education and experience.

Get a full view of assets in the property division process

Throughout the course of a marriage most couples in New Jersey will accumulate quite a few assets. Some of the most valuable assets can include the family home, vehicles, retirement accounts and even valuable personal property, such as artwork. When a marriage ends in divorce, these assets can become the focus of the case through the property division process.

However, even if there are some obvious assets to consider in the property division process, couples who are going through a divorce should be sure to get a full view of the assets they own. In many cases, couples own more in assets than they even considered. They will likely have debt to divide as well.

A look at the financial considerations in a gray divorce

There are many changes as people go through life, and some can lead to divorce for a long-married couple.

Divorce for an older couple may be more amicable than it would have been at a younger age, but it may also be more complicated financially due to the accumulation of assets such as retirement accounts.

Why do married couples get divorced?

When some couples in New Jersey are faced with the realistic possibility of ending a marriage in a divorce, they will often think, "Where did it go wrong?" After all, no one gets married with plans on ultimately getting a divorce. But, the reality, as we all know, is that many marriages do end in divorce in America. So, what are some of the most common reasons why marriages end in divorce?

Well, according to a recent article, one of the main reasons is personality issues or mental health disorders, either with one or both of the spouses in the marriage. And, to make matters worse, people who are facing these issues oftentimes fail to seek professional help, such as planning sessions with a therapist. The failure to address these problems, like anger control issues or depression, for example, can lead a marriage toward an end in divorce.

The benefits of divorce mediation

No one gets married thinking that the union might end in a divorce, but we all know by now that the reality is that many marriages do end in this manner. While it may seem unfortunate to those who are on the outside looking in, for the couple who is going through the divorce the process may be putting an end to a relationship that simply wasn't working anymore and, therefore, both of the soon-to-be ex-spouses can look forward to another chapter in life.

If a divorcing couple can look at the process as a legal situation that needs to be addressed fully and competently, instead of an emotional brawl, they may be able to work together in divorce mediation instead of fighting out the divorce issues in family law court. Choosing divorce mediation can allow the couple to reap a number of benefits, first and foremost of which is probably owing less in legal fees. However, there are other benefits as well.

Is the divorce rate in America really dropping?

For decades most people in New Jersey have heard the common refrain that approximately 50 percent of all marriages in America end in a divorce. However, a recent report noted that this is not actually true anymore. Is the divorce rate in America really dropping?

The recent report posted statistics to show that, nowadays, the real percentage of marriages that end in divorce is more like 39 percent, not 50 percent. If that is true, that represents a significant decrease in the number of divorces that are happening throughout the country, including in New Jersey. But, what is causing the number of divorces in America to decrease?

How can you deal with emotions of a divorce during the holidays?

The holiday season is upon us, and for most people this can be a great time of year to visit with friends and family. However, it can also be a time of stress as well. This is particularly true for those New Jersey residents who are going through a divorce or for those who are going through their first holiday season post-divorce. So, how can you deal with the emotions of a divorce during the holiday season?

Well, for starters, those who have children may be better off if they just accept the parenting schedule as it is during this time of year. This may be the first time in your child's life that you will not see them on the exact day of the winter holidays. Such separation can be emotional and hard to deal with. But, parents should remember that there will be other times during holiday seasons in the coming years when they will be with their children, and they will be able to start new traditions.

Typing things you may wind up regretting during divorce

Once you know you are getting divorced, there are a few practices you may want to start pulling back on. Living in a digital age makes it easy for people to put life on display for prying eyes. One of the worst things you can do before, during and even after divorce is putting things in writing you may regret.

While engaging with your ex via text message, social media or email seems like a good idea, there is one very big downside: a written record. Try and stay away from negative exchanges with your ex, especially in writing.

Know what you are getting into when it comes to alimony

When New Jersey residents are part of a divorce case, they probably expect to encounter quite a few bumps in the road during the process. After all, in many cases, the situation already starts out with two people who are obviously not overly fond of one another, although there are admittedly some cases in which the couples can work together enough to reach an out-of-court settlement. However, there will be those cases in which the couple fights tooth-and-nail over every detail, especially alimony. When it comes to contentious arguments about alimony in a divorce, be sure you know what you are getting into.

In a typical divorce, the parties can agree on some details. Perhaps they are mostly in agreement when it comes to property division. Or, perhaps they have worked out an arrangement when it comes to child custody and support. Alimony issues, however, will usually be filled with tension.

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Weinberg, Kaplan & Smith, P.A.
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Marlton, NJ 08053

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Phone: 856-375-1586
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