Blog

Key Terms in a New Jersey Divorce

Divorce is a scary time for anyone thinking about it or going through it.  Divorce is also something that people do not understand until they are in the process.  Therefore, I have created a list of key terms that are helpful to those new to divorce.

  1. Property Settlement Agreement/Marital Settlement Agreement – A written contract that addresses and resolves all issues arising out of a marriage. This is the main goal of every divorce and nearly 97%-98% of all couples reach this goal. The remaining couples have the issues of their divorce decided by a Judge.
  2. Support – a) Alimony – guided by statutory factors. The most important factors are the length of marriage, needs of parties, ability to pay, and ages of the parties.
    b) Child Support – We have guidelines. Some cases are above the guidelines and a variety of factors become relevant to establish support.
  3. Custody– a) Parent of Primary Residence – The parent who has the child the majority of the time.
    b) Parent of Alternate Residence – The other parent.
  4. Parenting Time – The term used to describe the time shared between a child and their parent.
  5. Equitable Distribution – The method used to divide marital assets and debts.
  6. Emancipation – The age wherein a child is self-sufficient and child support is no longer an obligation of the parents.
  7. Mediation – A process that allows the divorcing couple to self determine the terms of their divorce. A trained mediator facilitates this discussion and process. The mediator prepares a Memorandum of Understanding, which memorializes the terms of the agreement reached. This Memorandum of Understanding is then incorporated into the Marital Settlement Agreement.

Please contact me at jlawrence@lawlawfirm.com if you have questions about this post or any other family law matter.

Back to Blog
SHARE THIS POST:

Related Posts

Blog
The Reasons More Women Choose to Divorce

Why Are Women More Likely to File for Divorce? The overall trends in divorce rates in New Jersey show that while the divorce rate for first-time marriages is less than the often-cited 50%, falling instead between 43% and 46%, this is only part of the picture. For example, older couples are more likely to choose…

Read More
Blog
Financial Professionals and Your Divorce

Do You Need a Financial Specialist for Your Divorce? Divorce is a major event for almost everyone who goes through the process. Whether a couple is just starting out financially, has experienced some tough times, or has extensive holdings, the process of asset division and separation of finances can be challenging and complicated. In many…

Read More
Blog
6 Things to Consider When Making Your Prenup

What Items Should You Discuss in Your Prenup? Though only 10% of Americans get a prenup, this legal document can be very useful. Not only does it protect your assets in case of divorce, but it also helps clarify any financial issues before arguments arise. To get the most out of your prenuptial agreement, you…

Read More
Blog
What Are the Financial Effects of Alimony?

How Alimony Can Affect Your Finances Divorce is a major financial change for New Jersey estranged couples, with long-term effects that linger long after the personal and emotional consequences have faded. Asset division and alimony can have a significant effect for households going through a divorce. Many people will need to make changes in their…

Read More
Blog
Sharing Custody When One Parent Is a Narcissist

Is It Possible to Share Custody With a Narcissist? Co-parenting after a divorce can be difficult for almost anyone. Even if the end of a marriage is relatively low conflict, it is often a challenging adjustment to move from a shared family life to custody exchanges. However, these challenges become even more difficult when one…

Read More
Blog
Getting Ready for the Financial Side of Divorce

Preparing Financially for Your Divorce Divorce is not only an emotionally and personally taxing time; it is also a major financial milestone. With approximately half of all marriages ending in divorce, this financial transition can be all too common, and many people leave their divorces with greater financial stress and more difficulties in planning for…

Read More

Disclaimer and information can be found here, including links to descriptions and selection methodologies. No aspect of this advertisement has been approved by the Supreme Court of New Jersey.