Residents of New Jersey who are seeking a divorce must often find a balance between strong emotions and practical concerns about their finances. Where a couple has diversified assets, the process generally requires even more attention to asset taxation, immediate cash flow and jointly-held debts. A failure to attend closely to the implications of various property distribution proposals could place a party at a severe disadvantage in the future.
Child support in New Jersey
When one parent retains physical custody of a minor child following a divorce, the court may require the other parent to pay child support to help cover expenses for the child's care, maintenance and education. In New Jersey, the court will usually use a Child Support Worksheet to calculate the proper child support obligation from one parent to the other. The worksheet allows the court to view all of the factors that affect the financial situations of both parents.
Child custody laws in New Jersey
Many factors can influence child custody orders in New Jersey and elsewhere. In the state of New Jersey, judges mainly consider the best interests of the children involved. When parents are seeking joint custody, the court will look at the couple's ability to cooperate and communicate with each other in regard to their children. If there is a history of domestic violence, this fact will influence the decision regarding primary custody and visitation.
How forensic accountants can be helpful
New Jersey residents who are contemplating a divorce or already embarked upon the process will need an accurate accounting of their financial affairs in order to divide the marital property fairly. The services of a forensic accountant could be helpful in such an endeavor.
More couples consider prenuptial agreements
New Jersey residents may have read past information about marriage and prenuptial agreements. As times change and opinions evolve, prenups are becoming more popular.
