Posts tagged "Divorce"

Evaluating options in pursuing divorce

Divorce courts in New Jersey may help in deciding difficult matters related to the end of a marriage, but court battles can be costly. Nationally, the divorce rate tends to remain consistently in the range of 50 percent, which can also create a heavy load in the courts. To save both time and money, some couples might seek alternative avenues for terminating their marital ties.

Preparing for divorce may be smart

When New Jersey couples get married, they usually believe that they will always be together. However, it is possible that the marriage could end, which means it may be practical to prepare for such an eventuality. Regardless of whether an individual is married or not, it may be a good idea to learn basic fiscal literacy that includes learning how to budget or how to save money for retirement.

Baby boomers driving divorce rates up

One age group in New Jersey and around the country is responsible for driving the divorce rates up to above 50 percent. While people in younger generations have been divorcing less frequently in the past few decades, baby boomers have instead been divorcing even more.

Spousal support after an immigrant divorces

While prenuptial agreements provide New Jersey couples with the ability to pre-plan their exit terms in case a marriage becomes difficult, there can be situations in which a prenup is deemed to be inappropriate by the court system. A federal court case heard in San Francisco dealt with a prenuptial agreement and alimony terms between a U.S. citizen and his immigrant wife. A marriage contract was executed that affirmed that the husband would provide support in order to ensure that his wife's income remained above the poverty level by at least 25 percent once she immigrated. However, the couple also executed a prenuptial agreement that involved both partners giving up their rights to alimony in the event of a divorce.

Social media and divorce

When a New Jersey couple is facing the end of their marriage, emotions run high. In pre-Internet days, they would probably share their frustrations on the phone or in person with friends while socializing. Nowadays, however, many people keep in touch via social media accounts. This can be a game changer when it comes to processing emotions during the divorce process.

To stay or not to stay in a marriage

Most New Jersey couples don't walk down the aisle with the idea that their marriages will later end in divorce. It is understandable that deciding to divorce often involves people spending time thinking about the reasons for and against it. There are reasons why people might want to stay together, and there are also reasons why ending a marriage may be the best option in certain cases.

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.

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