Summary
In New Jersey, divorce involves equitable distribution of assets, considering factors like property ownership and business valuation. Alimony depends on income disparity and financial needs. Property acquired during marriage is subject to division, regardless of whose name is on the deed. Courts evaluate contributions and needs for fair distribution. Alimony is assessed based on marriage duration, financial need, and earning capacity. If one spouse is retired with social security income and the other has business and rental income, these factors influence asset division and alimony decisions.Full Conversation
I want to see my options for divorce. ****y husband has left the house for 4 days and * nights now and I'm contemplating divorce. We have two sons one is * and one is *.
Hi ****! In New York, here are some general options for divorce:
- No-Fault Divorce: You can file for divorce if the marriage has been irretrievably broken for at least six months.
- Fault-Based Divorce: Grounds include abandonment, cruelty, or adultery.
- Separation Agreement: Legal separation before divorce.
- ****ediation: Consider mediation for amicable settlements.
Would you like to know more about any specific option or have any other questions?
If the husband walks out of the relationship and the woman has one property and one business under her name and the other property the mortgage is both names and the deed is under the womans name. If the divorce happens than how would these assests be split. Would there be alimony? This is in NJ
In New Jersey, asset division and alimony are determined based on several factors:
- Equitable Distribution: Assets are divided fairly, not necessarily equally. Property acquired during the marriage is typically subject to division, regardless of whose name is on the deed or mortgage.
- Alimony: Factors include the length of the marriage, financial need, and earning capacity of both spouses.
Would you like to explore any specific aspect of these factors further?
So how would the assets be divided? Give me an example in this case
Case Rating: *
In New Jersey, assets are divided based on equitable distribution. Here's an example:
- Property: If acquired during marriage, the property is subject to division, despite whose name is on the deed or mortgage. Courts assess contributions and needs.
- Business: Valuation is done, and if acquired during marriage, it might be divided.
- Alimony: Assessed on marriage duration, financial need, and earning capacity.
Do you have any other questions about this?
So if the man is retired and getting * a month from social security and the woman is working in the business how would this work. She is also collecting rent from the properties *,* dollars
Case Rating: *
In New York, alimony and asset division consider the financial status of both parties:
- Alimony: The court may grant alimony if there's a significant income disparity. The husband's $*,*/month social security may be considered.
- Asset Division: Business income and rental income will be assessed for fair division.
Do you have any specific questions about alimony or asset division?
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