I’m Getting a Divorce, Should I Change my Will? Yes!
As a general matter, you should update your Last Will & Testament (Will) whenever you have any significant changes in your life. If you get married, have children (or another child), if you inherit money, buy property, win the lottery… update your Will to reflect these changes. You should also consider updating your Will during […]
Stipulating to the Marital Standard Living in your MSA Can Save Time and Money Later
If you are going to be paying or receiving alimony in a divorce you have the ability to stipulate to the marital standard of living in your agreement. In most divorces, the parties cannot agree on what the standard of living was and so they do not. Rather, their agreement simply has standard language that […]
Clarity is Key in Interpreting Alimony Provisions in Your Settlement Agreement
When the parties in a divorce agree to alimony provisions, the terms are often hotly contested and both attorneys will seek the most advantageous language for their respective clients. While there are common terms or “boilerplate” provisions for many different parts of matrimonial settlement agreements, drafting the alimony provision requires careful consideration. In the context […]
Child Support Trusts
Inevitably the most frequently asked question in a case involving child support is: What if the payor doesn’t make a payment? Non-payment may result from any number of reasons ranging from loss of employment to apathy to malicious non-compliance. More often than not, child support is paid and paid in a timely manner. The state […]
The Curious Case of Michael D. Jones, Deceased and the Need to Change Beneficiary Designations Post-Divorce
Savings bonds. Who still has savings bonds anyway? Well, a lot of people, and it is a common issue in divorce cases. Any asset acquired during the marriage is subject to equitable distribution. Even a savings bond, which would be held in the name of one spouse. The resolution of the issue is simple. Either […]
How does the Court Equitably Distribution Assets in a Divorce?
Marriage is a shared enterprise and, as a result, when a marriage is dissolved, the assets acquired during the marriage should be fairly divided by the parties. The court is required to conduct a three-part analysis when determining whether to distribute an asset. First, the court must identify which assets, existing at the time the […]
Equitable Distribution of Assets & The Legal Basis for Valuation of Businesses in Divorces
New Jersey is an equitable distribution state. This means, in plain terms, that the assets and liabilities acquired during a marriage are distributed fairly regardless of whose name they are in. One such asset is what we call a closely held business. A closely held business is owned by an individual or small number of […]
Why do we care about goodwill in divorce?
Lately there have been more and more people leaving traditional jobs and taking consulting positions. Is a solo consultant considered a business to be valued in a divorce? Also, more companies have been treating employees as independent contractors asking them to set up an LLC to be paid. Is that LLC considered a business in […]
Capacity to Contract and Divorce Settlements
In a recent unpublished decision, the appellate division affirmed a trial court’s denial of a motion to set aside a final judgement. The defendant signed a settlement agreement and then later claimed that she lacked the mental capacity to understand what she was doing. The trial court held a hearing and enforced the agreement. After […]
Can a Final Restraining Order Be Vacated in New Jersey?
In a word yes. In New Jersey, Final Restraining Orders (FRO) are considered final – like forever. The FRO will remain in effect until the plaintiff dismisses it voluntarily or the court vacates the order upon motion by the defendant. When an FRO is issued the defendant will be placed in the domestic violence registry […]