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Posts tagged "alimony"

Understanding the tax issues surrounding alimony payments

New Jersey couples who are interested in divorce legal issues may wish to know more about alimony. Without this information, spouses may have difficulty understanding how their taxes may be affected by these payments.

Examining marital property division when one spouse is an artist

New Jersey couples may be interested in some information about what happens to artwork during a divorce. While a piece of artwork is generally seen as just another piece of property by the law, the specifics of how it will be divided can depend on a number of factors.

How is property divided in New Jersey?

Many couples do not think about what constitutes community and separate property until going through a divorce, but it may be important to consider what possessions and assets one is bringing into a marriage. When a couple in New Jersey divorces, each spouse keeps separate property and will usually be awarded a fair share of marital assets.

What are grounds for annulment?

The grounds for annulment in New Jersey are much different than grounds for divorce. Because annulment essentially makes the marriage invalid, a spouse wishing to have their marriage annulled must show that the marriage was either prohibited by law or entered into unlawfully.

New Jersey alimony

In New Jersey, either party in a divorce may request that the other pay alimony on a temporary or permanent basis in most cases. There are certain circumstances under which a person may not be eligible to make such a request and still others that, while a request is allowed, it may not be granted. Accordingly, an alimony award is not automatically granted just because one spouse requests it.

New Jersey couples who split may benefit from mediation

Getting divorced is a huge life change, but it doesn't have to be a harrowing one. The laws on separation and divorce are extremely clear; state code covers a host of related issues such as child support, custody arrangements, property division and even the timelines that families need to follow during the formal court process. Unfortunately, the drawback of having so many rules is that they can be extremely confusing to the families that rely on them most. At Cipriano Law Offices, P.C., we work hard to help identify which laws apply to a unique case and make a better choice about how to proceed.

Assets that are subject to equitable division

In New Jersey, everything acquired by either spouse during marriage is considered a marital asset subject to equitable distribution in a divorce, with some minor exceptions. What some couples may not realize is that the marital property rule applies to illiquid assets such as retirement accounts. If an employed individual is not yet at the age of retirement, the parties may utilize a Qualified Domestic Relations Order to divide retirement accounts without subjecting them to a penalty for early withdrawal. Additionally, certain accounts such as a Roth IRA or Roth 401(k) do not have penalties for early withdrawals.

Former owner of Dodgers to get $1.9 million from ex-wife

New Jersey MLB fans who are following the McCourt divorce may remember that Jamie McCourt received $131 million in a tax-free divorce settlement from her former husband Frank McCourt, the former owner of the Los Angeles Dodgers, in 2012, but part of the agreement stipulated that if either party were to contest the agreement, he or she would have to pay for the other's attorney's fees. Jamie contested the agreement, which led a superior court judge to recently order her to reimburse her ex for the $1.9 million he spent in their latest divorce litigation. The decision was tentatively given on June 24, 2014. It will become final after a 15-day period in which Jamie's attorneys could appeal.

Welcome to the high-tech world of family law

They’ve been around since the beginning of time. Divorces, child custody battles and fights about who gets what when a couple splits are some of the oldest conflicts known to man. As such, we don’t generally think of the area of family law as a very tech-savvy field. It’s one that sticks to the tried and true methods that have worked for ages, right?

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