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March 2016 Archives

Prolonging divorce may be harder for children

Some New Jersey parents might take a long time to get divorced after their initial separation. They might be having second thoughts about the divorce, or their friends and family might be trying to persuade them to give the marriage another chance. In some families, religion may play a role in their hesitation to move forward with the process.

The importance of parenting plans

New Jersey couples who get divorced and who have young children could benefit from parenting agreements that clearly define their responsibilities. In addition to showing courts, schools, children and others that both parents are committed to active involvement, agreements serve as frameworks for disputes that may keep children from getting tangled up in arguments. In some cases, having a strong agreement might even make it easier to handle disputes out of court.

Learning about divorce from celebrity splits

Even though celebrity couples who are divorcing may have more complicated financial situations than most, New Jersey couples who are facing the end of a marriage could still learn a few things from them. For example, one contentious issue in celebrity breakups may be rights to intellectual property. This came up in the divorce of Ashton Kutcher and Demi Moore. However, people who are not celebrities may also own or have an interest in copyrights, patents and other types of intellectual property, and it is good to be aware that these might be included in a divorce settlement.

New Jersey couples who divorce need to plan retirement too

Those who decide to divorce their spouses after they reach the age of 50 may find it wise to focus on their retirement. Studies indicate that the divorce rate is rising in this age group, and the unique circumstances of older individuals could make them more susceptible to financial woes. They are advised to take another look at any estate planning documents they have created as they are preparing to end their marriage.

How understanding finances can improve a divorce settlement

People in New Jersey who are ending their marriage may be overwhelmed by the process and wait until after the divorce to try to get their finances in order, but this can be a mistake. By then, the damage may have been done by poor decisions related to the divorce settlement. By working with a financial adviser in the early stages, people can get a better understanding of their finances and make better decisions.

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