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Middlesex County Divorce Law Blog

Trust your spouse with your finances? Maybe you shouldn't.

Perhaps you always appreciated that your spouse handled the household finances, saving you the stress of juggling income, bills, investments and other money matters. During the course of your marriage, ignorance can be bliss. But when divorce comes into the picture, being unfamiliar with your financial matters could put you in a risky situation.

Unfortunately, many New Jersey divorcees can share the tragic tale of how their spouses swindled them in their divorce proceedings. In many cases, one spouse was able to cheat the other out of his or her fair share of the couple's finances by hiding money in various ways.

Happy Mother's Day. Let's talk about how much child support you owe.

When you think about what women want for mother's day, there are probably a few common things that come to mind -- flowers, cards and homemade gifts from the children. But this Mother's Day, many moms in Old Bridge gave more than they received. Sitting at their tables between flowers and cards, many mothers took the time to write their exes checks for child support or spousal support.

When we think about traditional gender roles in marriages, many people picture the men as the breadwinners and the women as the homemakers. Although that may have been true for decades, the tables are starting to turn. As women gain new footing in the workplace, it is becoming increasingly common for women to be the breadwinners and for men to be the homemakers.

What you need to know about financial affidavits during divorce

At first glance, a financial affidavit may look like a routine form filled out as part of the divorce filing process. On these forms, spouses lay out what they earn, what they spend in a year, the value of their assets and the size of the debts and liabilities.

When filling out this form, New Jersey couples give the court -- and the judge presiding over their divorce case -- a quick, digestible readout of the divorcing couple's finances. But financial affidavits are anything but routine, and they are instead filled with wiggle room and areas where both sides can differ in their estimations, making the process of filling out the form more difficult than it may first appear.

Who stays on the family's insurance plan after divorce?

When a couple's financial situation permits it, many families prefer to have one parent stay at home to raise the kids while the other spouse goes to the office to bring home the paycheck. As long as the marriage lasts, that approach can be effective, but the stay-at-home parent may face numerous complications if the couple decides to divorce.

One of the things many individuals in Old Bridge are concerned about is whether they will be able to stay on their spouses' insurance policies after the divorce is finalized. In short, the answer is, "No." Although your children may stay on the policy, you must find a new insurance plan.

Does technology make it impossible to hide assets during divorce?

In a recent blog post, we wrote about the information that can be gleamed from your social media accounts and used against you during a divorce proceeding. Because of the advancements in technology, information in social media sites is not the only "hidden" information that can be used against you.

Unfortunately, many individuals in Old Bridge think that they will be able to hide assets during their divorce. People mistakenly think this will allow them to keep their assets and avoid an equitable division. But it doesn't work that way. Thanks to technology, hidden assets are constantly getting easier to find.

Understanding what happens with your life insurance after divorce

The trickiest aspect of dividing assets during divorce proceedings is handling long-term assets and other holdings that won't come in to play until years after the divorce. Because divorce settlements need to be conducted in the best interests of both sides, the issue of life insurance needs to be addressed, particularly because it is often misunderstood.

Couples in New Jersey need to understand that life insurance occupies two statuses within the realm of divorce settlements: it is both a wealth accumulation tool and a risk management tool.

How should Old Bridge parents split college expenses after divorce?

With the end of the school year approaching, many high school students are thinking about finding jobs where they can make enough money to save for college. The costs of college and student loan rates are increasing, so teens and parents alike know it's critical to have a plan for paying for college.

Many parents in Old Bridge work hard in order to pay for their students' college expenses. But what happens when parents file for divorce? Are both parents still expected to help pay for college, and if so, how should the expenses be divided?

Protecting your finances during a New Jersey divorce

Divorce is filled with emotional grief, but most splitting couples don't have the luxury of sitting idly by until they start to heal. The process of divorce can be busy, stressful and unsettling -- particularly when you realize your financial situation is about to change.

New Jersey couples can benefit greatly by taking a few steps to keep their spending under control during divorce, helping to alleviate some stress until your financial forecast becomes clearer.

Think your Facebook post won't impact your divorce? Think again.

These days, it seems as though everyone in Old Bridge is on Facebook and Twitter. Social networking sites that once targeted high school and college students are now used by almost everyone. More specifically, 65 percent of adults who are online use social media, and 89 percent of individuals under 20 use social media.

Although social media can be a great place to connect with family members and old friends, the information you post can also be used against you during your divorce proceeding. Since 2010, information from social media sites has been a key part of nearly 700 cases.

Is living together before marriage a factor in divorce?

Many couples in New Jersey might believe that by living together before marriage, they will be less likely to end up going through a divorce. However, research shows that this is not true -- in fact, cohabitation may be a reason for divorce.

Despite the fact that many young people feel that living together before marriage is a good way to test the waters, experience is proving that many of these same couples will end up in a divorce situation. Researchers have named this phenomenon the cohabitation effect.

Goldstein & Bachman's founding partners - Mark Goldstein and Howard Bachman - have each practiced law in New Jersey for more than 20 years.

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