New Jersey law makes businesses owned by a spouse subject to potential claim and division in a divorce case. Part of the process involves fixing a present value to the business interest. Covid-19 will most likely impact the valuation of your family-owned business during your divorce proceedings.
The New Jersey Court system has reacted quickly to the Covid-19 crisis, issuing directives and Orders designed to keep the Courts open during these difficult times.
President Donald Trump recently signed the Coronavirus Aid, Relief, and Economic Security Act (CARES) into law. The law results in a stimulus check to families throughout the country. Each qualifying individual is slotted to receive $1,200 and those with children will recieve an additional $500 per child.
The Supreme Court in the state of Delaware has issued a directive clarifying that current governmental restrictions on working, traveling or social interaction do not apply to existing Court Orders or agreements concerning custody or parenting time. Leaders in New Jersey are reviewing the Delaware action and considering the issuance of a similar clarifying directive.
In the midst of the COVID-19 pandemic, many families are trying to navigate caring for and schooling children who are out of school for the indefinite future while balancing work-from-home or unemployment. For those parents who are divorced or separated, these circumstances have also raised questions about what to do with custody and parenting time orders. With directives from the Governor to stay home and new responsibilities for children at home, what happens to the parenting time schedule?
The issue of paying for attorney's fees in a New Jersey Divorce or Family Law matter comes up often. There is no rule in family law cases that the party who files for divorce or begins the custody dispute must pay for the other party's attorney. There is, however, authority in the law for a judge to potentially require one person to advance or pay the other party's fees. Family Court is a Court of equity, meaning the element of fairness is to be considered when a judge has to decide an issue. New Jersey law therefore gives a judge authority to grant an award of attorney's fees based on the financial situation if needed to level the playing field - to prevent one party from prevailing simply because he or she can afford to pay an attorney more. A judge may also award attorney's fees when one party has acted in bad faith, such as by violating a Court Order or taking a position that is blatantly unreasonable.
For years, there has been a connection linking divorce rates between parents and their kids showing that "divorce runs in the family". Studies conducted have suggested that the link stems from raising a child in a divorce household, which exposes them to the experience of divorce.
It is no secret that marriage is difficult. In fact, for a lot of people, it is far more difficult than they could have imagined. In many cases, the challenges of marriage prove to be too great and a couple divorces.
According to recent statistics, the current rate of marriage in the U.S. has declined to roughly 50 percent. At the same time, the number of people who live with a partner and/or raise a child outside of marriage is increasing.
If you are a parent ordered to pay child support, then you need to take this obligation seriously. Not only is the financial contribution critical to your child's well-being, but you can face some serious penalties if you do not comply with child support orders.