Law Offices of Peter G. Aziz & Associates LLC
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divorce Archives

Effects of divorce on small business owners

Divorce may carry unique considerations for New Jersey business owners. This is especially true for entrepreneurs with small, closely held firms. In many cases, this type of business is both the largest marital asset and the greatest source of income for both families. Of course, the financial effects of divorce can significantly outweigh other changes that come with the end of a marriage. However, business owners may have specific concerns about the future viability of the company and how the firm will be handled.

Retirement, Social Security benefits and divorce

A divorce will not always affect a New Jersey spouse's Social Security benefits. If the marriage lasted more than 10 years, the individual might be eligible to draw on the former spouse's Social Security earnings at or near retirement. To collect, it is necessary to remain unmarried and to have a smaller benefit than that of the ex-spouse.

Deciding between mortgage assumption or refinancing in a divorce

New Jersey couples who are divorcing and who decide that one will get the home have three basic options for dealing with the mortgage. One of them, keeping the joint mortgage, may mean less paperwork, but it leaves the person who did not keep the home in a vulnerable position if the other person misses a mortgage payment. This could have a serious impact on the credit of both people.

Spouses get creative when hiding money during divorces

Divorces frequently begin for many reasons, but money and property will become the central focus of settlement negotiations by the end of the process. People in New Jersey might go to extreme lengths to hide money when their marriages end. Their activities to shift money away from spouses might begin years before the actual divorce filings. The desire to reduce alimony payments, child support or other distributions to an ex-spouse motivate these attempts to make income and assets appear low on paper.

How to make the holidays easier after a divorce

Divorced and separated parents in New Jersey and throughout the country may face extra amounts of stress this holiday season. This is because they need to figure out how to create a schedule that allows each parent to see the kids in an equitable manner. Even those who have been divorced for many months or years may struggle to come up with an ideal schedule.

A post-divorce 'nesting" living arrangement can work

It is often said that the decision to divorce is one of the most difficult ones live can bring. For many, the decision is obviously the right one, but the problems come with trying to figure out how to do it with the minimum amount of harm caused to all those concerned. This is especially true when there are children in the marriage. Some New Jersey families are trying a novel approach that may have some benefits.

Common financial mistakes that could make divorce costly

Ending a marriage in New Jersey can be costly in terms of the emotional impact and the time that's involved in making life adjustments. However, divorce can also be literally more costly than anticipated if significant financial mistakes are made. While every situation is unique, there are some common financial oversights that tend to occur more frequently than others.

How a job can end a marriage

New Jersey residents may know that their jobs can have an impact on their relationships. Spending long nights on a stressful project could take a toll on even the strongest of marriages. However, who a person works with may play a role in determining whether a his or her marriage succeeds or fails. Data from a study done in Denmark found that men who worked mostly with women had an increased chance of getting divorced.

Hopelessness a strong predictor of divorce

There are a number of reasons that New Jersey couples may decide to divorce, but therapists have identified one key sign that a marriage may be on the rocks. When one or both partners feel hopeless about the future of the relationship, it can be a strong indicator of the likelihood of divorce. People in strong relationships may feel more positive not only about their partnerships but about other aspects of their life. In fact, the relationship can be a shelter during stressful periods at work or with other family relationships.

Study finds divorce can be contagious for some couples

A study has found that couples in New Jersey and elsewhere are more likely to divorce if they have a personal friend who has divorced. The study was conducted by researchers Brown University, Harvard University and the University of California, San Diego.

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