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What are the pros and cons of a legal separation?

Tensions from a variety of different sources can often put a great deal of strain on your marriage, so much so that you may even be considering following the lead of others in Hackensack and getting a divorce. Yet there is another alternative to consider if you or your spouse feels uneasy or unsure about taking the big of a step: a legal separation. Countless others have taken such action; in fact, U.S. Census Bureau data shared by the site shows that as many as 3 percent of all American adults may be separated from their marriage partners.

What happens to a mortgage after a divorce?

If you and your spouse are discussing the possibility of ending your marriage and you own a home together, it is very possible that you may have talked about one of you retaining your marital home and the other person moving out. For some people in New Jersey, this approach is taken when a divorce is initiated but eventually the plan to sell the home develops. For other people, the wish to remain in their home long-term is strong.

How is your debt divided in your divorce?

When going through divorce proceedings in Bergen County, there is typically one form of marital property that neither you nor your soon-to-be-ex-spouse will want: your debt. Yet just as New Jersey law mandates that marital assets be subject to equitable division, so too does it require that debts accrued during a marriage get the same treatment. Equitable, however, does not necessarily mean equal. Rather, it calls for the fair division of both assets and debts.

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Melinda L. Singer, Esquire
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Hackensack, NJ 07601

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