Alimony can be a burden on your finances. Even though you are legally required to pay it, chances are you would rather be spending your money on something else.
A prenuptial agreement refers to an agreement between two spouses that describes the financial consequences of a divorce. Marrying couples who get a prenup are usually dissatisfied with the way divorce law handles the finances of a divorced couple. Unfortunately, many divorced couples miss out on the advantages of a prenup due to the misconception that these agreements are only for the wealthy. If you're getting married, here are a few reasons you should consider getting a prenuptial agreement.
For many divorcing couples in New Jersey, dividing assets from the marriage is a fairly easy process. However, if you have complex assets, it may be difficult to accurately identify the assets during the discovery phase of the divorce. This is true even if the divorce is amicable and both parties fully cooperate. If this is the case, identifying and valuing these complex marital assets may be best accomplished by hiring a forensic accountant-someone trained in performing precisely this task.
If you are over 50, going through a divorce presents several different issues than it does for younger couples. Although you likely would not have to worry about child support, there are several other issues that are raised. Some of the more important issues present in divorces later in life include:
If your relationship is breaking down, there is a possibility that your spouse is taking steps to hide assets from you in order to prevent you from getting your fair share in the divorce that follows. You may believe that few spouses do this. However, according to a survey by the National Endowment for Financial Education, three-fifths of respondents admitted to hiding cash from their spouses. As a result, it is important to consider investigating further if your spouse exhibits one of the following signs before or during the divorce process: