No doubt about it, raising children brings immense financial responsibility. Often, the responsibility does not end when the child legally becomes an adult. If you are wondering whether you need to continue to pay child support while your child is in college, the answer is: it depends. Like a related question we hear often – “Can I stop paying child …
Coping with Divorce: 5 Strategies That Work
Divorce is a significant life event that has the potential to turn your world upside down. Daily routines are upset and stress levels can skyrocket during this unsettling time. Some partners may find it challenging to stay focused or productive as they struggle with the emotional aspects of this adjustment. The end of a marriage can trigger all kinds of …
Can You Change a Divorce Agreement?
As all divorcees well know, life does not always go as planned. People grow, relationships evolve, children are born, jobs are changed, and unexpected detours happen. When a divorce is made legal, both spouses will agree – in writing – on the terms of the settlement. This may be done through mediation, litigation or arbitration. Depending on the couple, this …
Mediation vs. Arbitration in Family Law: What’s the Difference?
There is no doubt the divorce process can be emotionally, financially, and even physically draining. To minimize these effects, many families turn to alternative dispute resolution to work out an agreement. In family law, as in other types of civil law, mediation and arbitration can reduce litigation costs – and friction – in what can often be a contentious process. …
Divorce vs. Legal Separation: What Are the Financial Differences?
If you are headed for a breakup of your marriage, you may be deciding between divorce and legal separation. While there are complex issues involved in any dissolution of an emotional bond, you should not avoid considering the financial differences between divorce and legal separation. What Is Legal Separation? It’s important to understand the ramifications of legal separation before discussing …
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 …
In Family Law, Winning Is Not Always Getting the Largest Amount of Money
Bergen County, New Jersey family law attorney Paul Goldhamer, Esq. is a founding partner at Kantrowitz, Goldhamer & Graifman. In addition to practicing matrimonial law, Mr. Goldhamer maintains a full schedule of radio and television appearances, teaching, and giving talks to professional organizations. He was a pioneer in providing no-cost public seminars on legal matters in New York and New Jersey. …
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 …
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 …