New Jersey couples who are getting divorced and deciding what to do with their marital homes have a few different options available to them. In many cases, one spouse wants to remain living in the home, often to provide ongoing stability for children. In this case, that spouse may need to buy the other spouse out or cede other assets that essentially do that. If that is not possible for whatever reason, the couple may choose to sell the home. When a home's current value is less than what is owed on the home, a short sale may be required.
There are many things about getting or being divorced that are not always commonly known or understood by New Jersey spouses. Lack of thorough knowledge in these areas may even have negative consequences. One such consequence could be the loss of financial benefits.
Have you and your spouse considered ending your marriage in New Jersey? Maybe you have had thoughts of divorce but have yet to talk to your spouse about them. Or, perhaps you are in the midst of a divorce. No matter where you are on the spectrum of the potential end of your married life, you are likely to have a myriad of questions about how this type of change will impact your life.
New Jersey residents who have weathered divorces know the pain and disappointment associated with letting go of the hopes and dreams of a life together with someone they once loved. That, however, does not mean that they have completely given up on the possibility of having this type of bond or future with someone else. However, the fact remains that with every subsequent marriage the rate or chance of getting divorced increases? Does this mean every remarriage is doomed to fail? What things should people watch for if they want to feel more secure in their chances of success?
The financial ramifications of a divorce on New Jersey residents can be as devastating as the emotional impact. This can be the case no matter which spouse earns more money or if both people earn relatively equal amounts. The need to split assets and debts alone can result in a serious change in financial status and then things like child support or spousal support can only add to the situation.
Have you been married for 20, 30 or even 40 years but all of a sudden may be contemplating a divorce? If so, you are not alone. Many other New Jersey residents have walked this path before you or are doing so now as well. In fact, there is even recent research that shows the immense growth of divorce among people at later stages of life across the nation.
Even the most doting New Jersey parents who want the best for their children can become somewhat distracted during and after a divorce. The need to focus on serious decisions ranging from child custody and support to property division matters and more can take a lot of energy. It can even put parents into an autopilot mode when actually parenting and this can make people more likely to do things that inadvertently upset their children in the process.
Have you or your spouse indicated a desire to get divorced? Perhaps you have jointly come to this decision. Either way, you are not alone. Many other New Jersey couples have walked this path before you while others do so along with you today. However, no two couples are alike and therefore no two divorces are alike. When deciding how best to work through your divorce, you will want to make sure you select the process that is best for you.
If you have begun the process of getting a divorce in New Jersey, you are no doubt quickly learning that divorce will touch every part of your life. What to do with your marital home, when you will be able to spend time with your kids, and what assets you will keep or have to give up are just some of the decisions that may have to be made.
The financial ramifications of a divorce can take some time for newly divorced New Jersey residents to recover from. You might have to manage your finances for the first time because your former spouse once did that or you may need to get back on good financial ground due to the actions of your ex-spouse. Either way, making a good plan is important on the front end to set you up for success.