Red Bank New Jersey Family Law Blog

When it comes to matters of spousal support, New Jersey spouses should know that there is very little that is set in stone. Family law courts have the ability to create an alimony structure that serves the ends of each couple, as the court sees fit. That means that spouses should pay close attention to their actions as they near a divorce, including their online activities. Family law attorneys are now turning to Facebook and other social media sites for information and evidence that can be used in negotiating for property division, child custody and alimony.

Social media, and Facebook in particular, is a factor in many divorces due to the ease of making connections with people from one's past. A few innocent "likes" and messages can quickly turn into an emotional affair, which can then quickly turn into a physical affair. And that often turns into a divorce. 

For some New Jersey couples, an expensive art collection serves as a ticket into the upper levels of high society. Art has long been traded among the wealthy, dating back to the 17th century. Today, however, art has become an asset class in and of itself. Investing money into art serves is one way to conceal wealth from tax authorities and other potential losses. For some spouses, an art collection can be an excellent vehicle for shielding wealth from division during a high asset divorce.

Matters can become even more complicated for couples who have homes in multiple locations, or who have an art collection that is so expansive that pieces are stored in various places. Very often, only one spouse is actively involved in creating and maintaining the collection. The other party may be unaware of the full scope of the holdings.

Working with a financial advisor is a great way to preserve and increase personal wealth. When it comes to getting married, a New Jersey financial advisor can also help protect against losses in the event of a high asset divorce. Each set of circumstances is unique, but a prenuptial agreement is among the most powerful ways to protect wealth.

In some cases, a prenup is simply a family expectation. Many wealthy families insist that their adult children sign a prenuptial agreement prior to tying the knot. Some families even have a set list of terms that are to be included in the document. 

Divorce is a painful, stressful process. And unfortunately, it is one that can take much longer to resolve than you might expect. It is not uncommon for people to do whatever they can to speed up the process so that they can move on.

However, in an effort to push the divorce process along, you might make some missteps that prove to be quite costly in the future. In order to avoid paying a high price for expediency, you should be careful to avoid three timesaving mistakes.