Vital Nj Divorce Law Information By New Jersey Family Lawyer In Morris Essex Union Somerset County

If you are about to file for a New Jersey (NJ) divorce or legal separation

, you should know that the divorce laws are uniform throughout NJ. Therefore, regardless of whether you are filing for divorce in Morris, Essex, Somerset, Union or any other county in the state, the information discussed in this article will apply. In this article, I will explain key information regarding NJ divorce laws as it relates to alimony, child support and the division of assets and

liabilities.

Alimony How is it determined?

In the State of New Jersey, alimony, which is also referred to as spousal support, is not calculated using a specific formula. Most people are under the false belief that this number is easily calculated. In reality, several statutory factors are considered before an alimony amount can be determined. Some of these factors include the length of the marriage, age of the parties, health of the parties, standard of living enjoyed during the marriage, earning levels of the parties, education background of the parties and their capacity to earn.

Child Support How is it calculated and what expenses does it cover?

Child support is generally calculated by the NJ child support guidelines. This is a specific formula which takes into consideration a number of factors including: each partys income, any alimony or spousal support awarded, health care premium contributions by one party, overnight parenting time and child care costs. In most cases, child support covers expenses for the child such as shelter, food, clothing, entertainment, standard extracurricular activities and transportation. There are also several items that are expected to be paid by the parents for the child, which are considered separate from the child support payments. These can include: unreimbursed medical costs, prescriptions, camps and education. Make sure that you clearly define in your New Jersey (NJ) divorce or legal separation agreement what expenses are not covered by the child support guidelines and what percentage of those expenses each party will pay. If done properly, this can save you significant future legal bills.

Division of Assets Does the titling of accounts dictate distribution?

When you are trying to determine the division of your assets and debts in the State of New Jersey, you should not be misled by how your accounts are titled. Having an asset titled in your name alone does not render the account exempt from distribution nor does it necessarily mean that you are absolved from paying a specific debt titled in your spouses name. For instance, if you have an IRA account in your name which you began contributing to during the course of your marriage, your spouse has a financial interest in that account, as it is considered to be a marital asset through the filing date of the complaint for divorce. In this case, you should reasonably expect that your spouse will receive an equal share of the marital portion of the IRA, which is calculated from the date of the marriage to the date of the complaint for divorce. The same is often true for the marital home, 401k accounts, credit card debt and so on. Make a point to identify all of your assets and liabilities, then talk candidly with a New Jersey (NJ) Certified Matrimonial Attorney, a designation attained by only 2% of the matrimonial lawyers in NJ, to better understand where you will stand financially after your divorce.

The divorce process can be confusing and I would encourage you to take the time to speak to an experienced New Jersey (NJ) divorce lawyer to fully understand your legal options and to learn how the divorce laws will impact your specific situation. If you would like additional information about divorce and family law or to download a free copy of my divorce guide, visit my web-site at

by: Alimony

POST COMMENT

Commercial Solar Lighting Components A New Tool for Australia's Website Development No Budget Strain as you Finally Decide on Moving to a New Location Hotels in New Delhi – Escape from the Hustle of Delhi Rosetta Stone Turkish Review - Studying A Whole New Language By Using A Computer Software Batemans Bay Accommodation Has Something New To Offer Apple iPad Contract Deals: Accomplishing The New Heights Of Excellence Quality New Haven Ct Family Dentist In Connecticut Build Your Own Solar Panel Instructions Reviewed Against Eachother Private Equity Funding: A New Way to Make Money Happy New Year With Hockey Players In Nhl Hockey Jerseys Saving Money And Going Green With LED Landscape Lighting Real Madrid, Mourinho Challenges Traditional New Year Wishes: To Be A Good Person!