In everyday conversation, probably one of the most often-cited relationship statistics is that half of all marriages end in divorce. Not only is this statistic outdated, it falls far short of capturing the current picture of marriage in the United States. Changing demographics and cultural norms are both causing a shift in the way people approach marriage. Here are some …
New Federal Tax Law Will Reshape Alimony in NY and NJ
According to the current federal law, alimony payments – also known as spousal support – are tax deductible for the spouse making the payments. The newly-approved tax bill, however, shifts the tax benefit from the paying spouse to the receiving spouse. This will have a significant effect on divorce proceedings. About the new 2017 tax law On December 22, 2017, …
3 Reasons Custody Agreements Are Revised
Custody and visitation agreements aren’t set in stone. While it’s absolutely essential to abide by the terms of the decree while it’s in effect, it is possible to ask the court to change the terms. Either parent may consult a divorce lawyer to discuss child custody modifications, but there must be a compelling reason and evidence to prove these changes …
10 Examples of Irreconcilable Differences in Divorce Cases
In New Jersey, which allows no-fault divorce proceedings, many couples cite irreconcilable differences as justification for their split. As the term implies, irreconcilable differences is an inability for two married people to resolve disagreements or differing opinions, leading to a hostile and unhappy relationship. In such situations, where marriages are broken beyond any hope of repair, couples may agree that …
How To Avoid Costly College Savings Account Mistakes in Divorce Cases
A 529 College Savings Account can be a valuable method for parents to set aside funds for their children’s education while also benefiting from significant tax savings. However, when a marriage unravels and financial settlement negotiations begin, these types of investments must be carefully addressed in order to prevent an inequitable support arrangement. The divorce and child support attorneys at Kantrowitz, Goldhamer …
Most Divorce Courts Mandate Parenting Programs for Ex-Spouses
Most observers agree that working out a co-parenting plan cooperatively after a divorce provides the best scenario for children’s well-being. Because of this, more than 50% of divorce courts in the U.S. mandate co-parenting education for divorcing spouses. A recent study from the University of Missouri, however, indicates that gender plays a large role in individual parental concerns. Educational programs …
What’s the Legal Difference Between Annulment and Divorce?
A marriage is a legal decree that may be dissolved in two ways: through a divorce or an annulment. While both procedures are binding in a court of law, it’s important to understand the legal differences between annulment and divorce. For couples who are considering ending their union, the following is a brief recap of annulment vs. divorce. Annulment declares …
Alimony Reductions Under Changed Circumstances Can Be Retroactive, Court Finds
A October 7 ruling from Ocean County Superior Court Judge Lawrence Jones held that recent amendments to New Jersey’s alimony statute which permitted reductions in payments in light of changed financial circumstances can in fact have retroactive application. Judge Jones opined that the harsh realities of current economic conditions and the interests of fairness and equity demand such an interpretation …
What are the Grounds for Filing Divorce in New York?
Spouses filing for a divorce in New York are required to state the reason for the divorce..They can request the court to terminate their marriage under certain specified grounds listed in New York’s Domestic Relations Law. The grounds (reasons) for getting a divorce in New York are: Irretrievable breakdown: If the relationship between the spouses has broken down irretrievably for …
How is Intellectual Property Divided in a Divorce?
We often talk about businesses, financial accounts and properties in our blog when we discuss the division of marital assets during a divorce case. However, it should be noted that other items could be thought of as assets and be potentially divided. This includes the rights to intellectual property like music catalogues, published work and/or other forms of art and …