Posts tagged "asset division"

While well intentioned, many couples that walk down the aisle eventually decide to go their separate ways. It's smart, therefore, for individuals to protect whatever assets they bring to a marriage. A prenuptial agreement is one way that individuals, especially those with considerable wealth, can protect their financial standing. There are, however, some things that may result in a prenuptial agreement being deemed null and void.

Nearly all couples who divorce must make decisions related to who will retain possession of certain material items. Most, however, do not have to make these decisions related to priceless works of art. In one high net-worth divorce, however, a couple fought over how to divvy up more than $100 million dollars worth of art work.

In a recent post, we talked about the emotional and financial impact of getting a divorce. Many people expect to be emotionally drained after a divorce, but fewer people are prepared for the financial toll of getting divorced. We already talked about the additional costs of finding a new place to live and splitting all your bills.

Many couples in Old Bridge have worked hard to accumulate wealth in a few places. In addition to having equity in their homes and vacation homes, many couples also invest in stocks and make significant contributions to their retirement accounts. Today we'll talk about the cost about the cost of splitting your pension or 401(k), your stocks and CDs, and any other financial assets you have.

Divorce is a complicated process for any married couple, and in almost all cases, it's an ordeal that is best navigated with the help of professionals. Although some couples do choose to divide assets and finalize the terms of a divorce without the help of an attorney, that's rarely the most effective things for individuals to do -- particularly in a high-asset divorce case.

And as divorces among the baby boomer generation are on the rise in New Jersey and elsewhere, more and more divorce cases are being seen between couples who have built large financial assets -- including investment and retirement accounts -- over the course of their marriage.

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.

A recent study of 5,200 people cited in Time magazine found that while roughly the same number of men wished to get married as women, men between the ages of 25 and 49 desired marriage less than women in the same age range.

While this could be for a variety of reasons, many men said they are hesitant to divorce in what they claim is a family law system that is weighed heavily in favor of women.

In most cases, New Jersey law requires courts to distribute marital property equitably without regard to gender, but many men still avoid marriage because they see the chance of divorce as a financial risk. Young men with strong careers and those who started their own businesses are especially afraid that divorce could make them give a large portion of their assets away, despite the hard work they put in to get them.