By Tanya Helfand | Published January 13, 2020 | Posted in Debt, Divorce | Tagged Tags: Debt, debt jointly with an ex-spouse, Divorce, property ownership |
What Does It Mean When Your Name Is on a Piece of Property or on a Debt?
People have many misconceptions about property ownership and debt. If your name is on a piece of property or a debt, the legal result is very different in Divorce Court vs. Civil Court or Bankruptcy Court. In a marriage/divorce situation in New Jersey, property acquired during the period of “coverture” – from date of marriage Read More
Read MoreWhen one spouse has debt and the other spouse doesn’t want to file for bankruptcy
At Helfand & Associates, in addition to family law, we have been handling individual and small business bankruptcy cases for over 15 years. If a couple is married, they can file together and the cost is just modestly more than an individual bankruptcy although it includes the debts of both parties. Frequently, a couple even Read More
Read MoreWhat Happens to Gifts or Loans if the Couple Does Not Get Married?
Traditionally, when a man proposes marriage, he gives his fiancé an engagement ring. This ring is a gift in contemplation of marriage. It is not the same as other jewelry which are gifts that may be given in a dating relationship but does not carry with it the commitment to marry. If the couple breaks Read More
Read MoreMy Spouse and I Own a Business Together. How will a Judge Split it?
Businesses have value and are considered assets for division pursuant to the equitable distribution law. Typically, in a divorce, an accountant values the business. The accountant, among other things, reviews the tax returns, books and records of the business for several years, obtains information from the business owners, and accountant of the business and researches Read More
Read MoreDetermining Costs and Paying Bills During Separation and Divorce
A divorce is very emotional, but you will need to focus on how the bills will be paid. The costs of a marital lifestyle can be much different than the reasonable needs of the parties and family after a divorce and creation of two households. The adjustments that have to be made can be handled Read More
Read More