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Jennifer McCaskill
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Red Bank New Jersey Family Law Blog

Is Bristol Palin headed for a high asset divorce?

Bristol Palin, daughter of former governor and vice presidential candidate Sarah Palin, is headed for divorce from her husband of just two years. Many New Jersey readers remember the acrimonious breakup between Palin and her now-husband that led to the early stages of a paternity and child custody case. Now, the couple could be headed back toward what may be a high asset divorce case. 

When the couple parted ways a couple of years ago, Dakota Meyer quickly took steps to establish paternity and parental rights. Since then, they've welcomed a new child into their family, who joins their first child along with a son Palin gave birth to as a teenager. Meyer recently filed for divorce, citing "conflict of personalities" as the reason for their separation. 

How a financial advisor can protect against high asset divorce

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. 

Prenups are a common protection against high asset divorce

For wealthy New Jersey couples, a prenuptial agreement is an absolute requirement for marriage. A prenup can be negotiated to include any number of terms, some of which are common and others that are uniquely geared toward the needs of that particular couple. A prime example lies in clauses intended to address length of marriage in the event of a high asset divorce.

When drafting a prenup between a moneyed partner and one with few assets, a predominant focus is on protecting wealth from loss in the event of a swift divorce. That is an understandable concern, as there are many cases in which a marriage ends within a short period of time, and the spouse with more wealth loses a considerable chunk of those assets. A prenup can prevent such a loss.

3 mistakes to avoid when trying to speed up a divorce

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.

Following rules: same-sex couples and divorce

Faced with divorce and child custody matters, New Jersey couples are almost universally better off to handle matters outside of court. Aside from being able to hammer out the details themselves, staying out of court avoids the risk of contempt charges connected to same-sex couples and divorce. One man learned the heard way that following the rules is absolutely imperative in any court setting. 

The man was attending a conference to work out child custody details with his former wife. There were signs posted in the building that clearly stated that cell phone use was not permitted in the courthouse. Despite those warnings, the man decided to use his phone to record the meeting. 

Should you stay or should you go?

There comes a point where a romantic relationship no longer works. We all have been there. You go back and forth trying to make a decision about the future and if it will include your current partner. According to the American Psychological Association, approximately 40 to 50 percent of marriages in the United States end in divorce. Making a marriage work is no easy task, here are five tips to help you evaluate if there is longevity in your relationship.

  • Your needs are not met

Harvey Weinstein facing high asset divorce

Disgraced Hollywood producer Harvey Weinstein has lost his position at the production company that bears his name, the respect of many of his friends and colleagues, and he is being investigated for sexual assault. He is also likely to lose his wife of 10 years, Georgina Chapman. According to reports printed in New Jersey and elsewhere, Chapman is assembling a team of attorneys to process her high asset divorce

The couple just passed their 10-year anniversary. They have a prenuptial agreement in place, and it is rumored that, if their divorce is not final by the 11-year mark, Chapman stands to receive considerably more. As it stands, she is rumored to get spousal support of $400,000 per year.

Potential stressors for same-sex couples and divorce

When an older couple decides to divorce, there are certain considerations that deserve close attention. That is true for all New Jersey couples, even in regard to same-sex couples and divorce. Understanding what to expect can make it easier to move through the process when the time comes. 

One thing that can be a surprise is how quickly friends fall to the wayside once a divorce is underway. This can be especially true for friends who only knew the parties as a couple. They may feel uncertain about how to interact with each spouse as an individual or how to avoid the appearance of taking sides. 

Tips for saving money in a high asset divorce

No one likes to lose money, no matter what one's level of wealth or standard of living. For New Jersey couples going through a high asset divorce, there are several ways to avoid steep financial losses. Understanding the more common financial pitfalls is critical to reaching a favorable outcome.

One key point that cannot be overstressed is the importance of never signing a legal document without a very clear understanding of the conditions contained within. Once a divorce agreement is signed, it becomes next to impossible to revisit any of the matters addressed in the document. Don't be rushed or pressured into signing, and take advantage of legal counsel to ask for clarity or explanations when necessary.

6 tips for creating a custody plan during the holidays

The holidays are meant to be a joyous time spent with your loved ones, but for many divorced couples they can be stressful. Determining who has custody of the children on certain days can be frustrating and emotional for all parties involved.

However, it’s not impossible to work out a plan that works for everyone. Here are some tips if you need help determining a custody plan this holiday season.

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