Bronzino Law Firm LLC
Tag: division of assets

Bed and Board Separation and Divorce Attorneys Brick and Sea Girt NJ

With “divorce season” in full swing, some individuals are eager to get a new start on the divorce process, while other couples aren’t quite ready to be completely divorced but are considering a separation from their spouse.

Bed and Board Separation and Divorce Attorneys Brick and Sea Girt NJThe separation of a married couple typically involves a married couple who have decided to no longer live together or be in a relationship. Reasons for a short-term option, often referred to as divorce from bed and board, can be because the couple may want to reconcile at some point, religious concerns that discourage or prohibit divorce, or to retain health insurance coverage (i.e., COBRA).

This short-term option can be as part of a trial separation or a permanent separation. Although the couple will technically remain married until either party files for divorce, they may still layout the legal terms of their separation.

It should be noted that New Jersey also has a procedure called “legal separation” for same-sex or divorce from bed and board, which is virtually identical to divorce from bed and board.

If you are considering separating or divorce but are having trouble deciding whether or not it is right for you, it is highly recommended that you consult with an experienced Ocean County divorce attorney, who can help you better understand the options available to you.

At The Bronzino Law Firm, LLC, we handle all divorce-related matters, including child support, child custody, division of assets, alimony and spousal support, and post-divorce modifications for clients across Ocean County and Monmouth County.

Call our Brick or Sea Girt office at (732) 812-3102 to discuss your unique needs, concerns, and situation when it comes to any divorce matter in a free and confidential consultation today.

Process For “Divorce from Bed and Board” in Monmouth County, NJ

Since New Jersey does not have offer legal separations, one option is the legally termed divorce from bed and board. According to New Jersey Statute 2A:34-3, a divorce from bed and board can be granted for the same reasons as a regular divorce. Both parties must request relief and show evidence for reasons which merit the divorce, which will not prejudice either party from filing for a full divorce later.

Couples must first prepare a separation agreement, which would resolve child custody, child support, equitable distribution of property, alimony, and any outstanding marital debt. Each party would and then have notarized. Survivor benefits under many pension plans, and certain federal benefits, such as spousal social security retirement benefits, may be preserved during the divorce from bed and board.

Contact a Point Pleasant, NJ Separation and Divorce for Bed & Board AttorneyOnce the document is notarized, all the debts and assets shared by the couple are considered frozen and divided separately for each spouse. After a divorce from bed and board is granted, all new property rights stop accruing as if the parties had obtained an absolute divorce. Therefore, equitable distribution ends at the time of the entry of the divorce from bed and board. From a purely economic standpoint, the marriage is essentially over.

Spouses who are legally separated by Divorce from Bed and Board are not obligated to live together but are still subject to other responsibilities that come with being married. Meaning they are to remain faithful and not break their marital vows. These spouses, although living separate, must still be faithful, respectful of the other’s wants and needs, and assist the other when necessary.

Religious & Financial Reasons for Seeking a Divorce from Bed and Board

A divorce from bed and board can be for people who are morally or religiously opposed to divorce. Each party may legally lead separate lives, although the marriage has not been terminated.

Typically, a former spouse cannot stay on the other’s health insurance plan after a divorce decree. In light of the current pandemic and rising insurance premiums, another big reason people choose to divorce from bed and board is to retain their existing health insurance, which is often a significant financial benefit.

Disadvantages of a Divorce From Bed & Board in Brick, NJ

Unfortunately, if a spouse dies and has disinherited the other party in their will, then the ex-spouse is not entitled to make any claims against their estate. On the opposite end of the spectrum, if one spouse were to experience a financial windfall (i.e., the lottery), their spouse would not be entitled to anything.

Contact a Point Pleasant, NJ Separation and Divorce for Bed & Board Attorney

Legal separation attorney Peter J. Bronzino serves local Ocean and Monmouth County communities such as Brick, Sea Girt, Brielle, Point Pleasant, Bay Head, Manasquan, Toms River, and Eastern New Jersey.

Attorney Bronzino believes in providing clients with the personal attention and professionalism they need and deserve. Find out why our clients and their families have taken the time to write glowing testimonials after their divorce and family law legal concerns were resolved. Whether you are going through a separation, divorce, or any other family law dispute, our firm will fight to protect your legal rights.

To learn more about legal separation in New Jersey, please contact us online or through our Brick or Sea Girt offices by calling (732) 812-3102 today for a free and confidential consultation.

Bitcoin Assets and Divorce Attorney Monmouth and Ocean County NJ

As times change and technological advances seem to arise almost daily, the equitable distribution of assets during a divorce is more challenging than ever.

Cryptocurrency such as Bitcoin can be tough to trace when one suspects that a spouse or partner is hiding their true financial worth by using this unregulated monetary system.  Here at the Law Offices of Peter Bronzino, we know how complicated the process can be.  Read on to see the warning signs if your spouse uses Bitcoin to hide assets and how we can help you reach a fair settlement.

What are Bitcoins?

Bitcoin Assets and Divorce Attorney Monmouth and Ocean County NJBitcoin is a worldwide digital currency developed back in 2009, which has seen an increase in almost mainstream popularity over the past year or so. The Bitcoin exchange is completely decentralized, meaning there are no attachments to banks or governments.

There is no compelling reason to give names when managing in Bitcoins; all required are the person’s wallet IDs. It is additionally a lot simpler to move Bitcoins out of the country, making them significantly harder to find. This anonymity, the lack of paper trail that would typically be found through conventional transactions, and the current lack of regulation is why divorce attorneys are concerned that these transactions could provide new opportunities for a divorcing spouse to be disingenuous regarding their assets. The following tips can help you and your attorney discover any virtual money your spouse has not disclosed.

Bank and credit card records show a transaction with a cryptocurrency exchange.

Certain online sites work as the section point for many people keen on acquiring or exchanging Bitcoin and other advanced monetary forms. Trades include Coinbase, Binance, Etoro, Coinswitch, Luno, and PaxForex. All it can take is one exchange in “typical dollars and pennies” to enter this new Bitcoin universe, where untold computerized cash can be acquired. So in the event that you see any crypto action, anyway slight, it is deserving of further examination — particularly if your partner excluded it from the Case Information Statement. Each crypto wallet (where computerized money is kept) accompanies a one of a kind “key” that would then be able to be followed to show all exchanges related to the wallet.

History of large Amazon Purchases

History of large Amazon PurchasesSome crypto companies allow trades that permit clients to obtain a computerized wallet with restricted proof of identity required (sometimes just an email address.) To hide their holdings, some spouses, rather than buy more Bitcoin and put it in their wallet directly, interface with a Bitcoin client in one of the numerous client gatherings who is happy to receive merchandise that will be paid in Bitcoin to the purchaser. It goes like this:  Person A, who wants to keep their Bitcoin transactions under wraps, buys several large items for Person B.  Person B then deposits Bitcoin into their online wallet, and the transaction is practically invisible. Check Amazon, eBay, and other online vendors. Has your companion made unordinary or huge purchases of items that have never been brought to your home? Are there names and addresses in your Amazon account dispatching list that you don’t recognize?  Should you not have access to those accounts, your lawyer can request it during divorce disclosure.

The presence of crypto exchange apps or digital wallet apps in your App store account.

It is likely your spouse has a crypto banking app on their phone. If you share the same phone account, you may be able to access the history of all apps downloaded to any phone on your plan. If you cannot obtain this information on your own, your attorney can add to this to items to be produced during discovery.

Bank accounts show large singular cash withdrawals or a pattern of smaller withdrawals of similar size.

This kind of pattern warrants further investigation. What was the money used for? Trading cash for Bitcoins is one possibility, but there are many more. Transferring cash to a Paypal account is another red flag. What was the purpose of this transfer, and to whom is the money going?

Secretive behavior with account statements.

Has your partner become secretive about financial statements?  Maybe the password for your online banking has been changed, and your spouse shrugs it off as some technological glitch, promising to contact the bank later that day. Call your bank and credit card company to request copies be sent directly to you for all joint accounts. Let your attorney know as soon as possible so that steps can be taken to make your spouse produce the paperwork for all joint accounts.

Retain a Wall Township Divorce Lawyer TodayThe New Jersey Law Journal recently tackled the issue of the impact of Bitcoin and cryptocurrency on divorce. Although Bitcoin is largely anonymous and difficult to trace, it is traceable when it enters digital space. For example, if it can be proven that large amounts of money have been transferred through currency exchange, your attorney or a financial forensic analyst can support your accusation. A good divorce lawyer will be able to advise you on the best approach to proving the existence of assets in Bitcoins. Although digital currencies may be harder to value than traditional assets such as stocks, shares, and property, this does not prevent the court from determining a fair evaluation.

Retain a Wall Township Divorce Lawyer Today

At Bronzino Law Firm, our attorneys have extensive experience helping clients across the Jersey Shore in Point Pleasant, Toms River, Jackson, Wall, Sea Girt, and Brick favorably and effectively divide marital assets divorce or mediation process.

To schedule a consultation with a member of our firm today regarding your asset doubts, please visit our online form or call us at  (732) 812-3102 to learn more about your options.

Understanding Prenuptial Agreements in Monmouth and Ocean County NJ

Read on to learn what a prenuptial agreement is, why it is used, and myths about prenups that may impact your premarital decisions.

Prenuptial Agreements: Fact and FictionPrenuptial agreements have gotten a bad name in modern culture because it appears to be a death sentence for a marriage – before the marriage has even begun. This is not the case. A prenuptial agreement serves many purposes, and its use is not solely to ensure that, in the case of a separation, each party will walk away with pre-determined assets still in their possession.

What is a prenuptial agreement?

A prenuptial agreement, or ‘prenup,’ is a legal contract a couple enters into before joining together in marriage or civil union that provides them with certain controls in their marital legal rights, whether the marriage ends in death or divorce. New Jersey law sets certain legal precedents regarding the rights of a spouse in the case of separation by death or divorce, including division of assets, the right to seek alimony, and fair distribution of the estate of the spouse. A prenuptial agreement, however, can supersede those precedents

Prenups provide legal rights to couples regarding more than simply division of assets, however. Read on to learn some common myths about what a prenup is – and isn’t, and the reality of prenuptial agreement.

Myths about prenups

Fact or Fiction? The existence of a prenuptial agreement means the marriage will end up failing

This is, of course, fiction. There are many reasons a prenuptial agreement is a wise contract into which to enter, and fearing for the worst is rarely one of them. According to Business Insider, there is no conclusive evidence that the presence of a prenup results in a higher divorce rate.

Fact or Fiction? Only people with lots of money enter into prenuptial agreements

Only people with lots of money enter into prenuptial agreementsThis, too, is fiction. Because the legal rights addressed in a prenup cover more than the division of assets, they are not all about big money. Prenups include legally-binding agreements from whether a spouse will be legally entitled to alimony payments in the case of a divorce to who will get the pets. They can outline how assets will be separated amongst any children and how shared debt will be handled. Because a marriage or civil union is a business partnership, a prenup acknowledges the many financial and non-financial assets to be considered in a partnership, and upon its termination.

Fact or Fiction? New Jersey prenups can include child custody arrangements in the case of divorce

This is false. The New Jersey Superior Court: Family Part holds children at the central consideration in all divorce and custody arrangements. Because the court uses this ‘best interest of the child’ standard, they must take into account the living situation each parent would offer the child at the time of the divorce, no sooner. The inclusion of a child custody arrangement in a prenuptial agreement would be invalidated by a judge.

Fact or Fiction: A prenup can be drawn up and signed without a lawyer in New Jersey.

This is factual. New Jersey law mandates that prenuptial agreements must be in writing and signed by both spouses, and included an attached statement of the assets addressed in the agreement. While New Jersey couples are encouraged to seek the support of an experienced family law attorney before submitting a prenuptial agreement to the State, it is not legally required. If one spouse hires an attorney and the other does not, a statement of acknowledgment and consent to not having an attorney must be filed as part of the prenuptial agreement. After the entry of a prenuptial agreement into law, it can only be amended or nullified with signatures from both spouses.

Fact or Fiction: If you decide later that you want legal right over your assets after you get married, you can simply sign a post-nuptial agreement.

Get in touch with a Wall Township Prenuptial Attorney TodayEasy there! It is not as easy to protect your assets after you get married as that. Any assets that you have accrued between your marriage and the time you decide to arrange a postnuptial agreement are considered marital assets, and as such, they are shared equally. The process of determining what assets will remain with whom will likely require the support of an attorney, and open communication and amiability between spouses.

Get in touch with a Wall Township Prenuptial Agreement and Family Law Attorney Today

At Bronzino Law Firm, our experienced attorneys support clients in Point Pleasant, Brick, Wall, Sea Girt, Spring Lake, and the greater Ocean and Monmouth County Areas in their marriage and family arrangements, including prenuptial agreements.

To schedule a consultation today with a member of our team regarding your prenuptial agreement, please fill out our online form or call us at  (732) 812-3102 to discuss more details about your case.

Will my Retirement Account/401k/IRA be Protected in my Divorce?

Learn from an Ocean and Monmouth County Divorce Lawyer some strategies for maintaining your hard-earned savings when you legally separate from your partner.

Protecting your Retirement Savings during a DivorceThe divorce process is full of moving pieces that can wreak havoc on your physical, mental, and emotional health. Having a skilled divorce attorney can ensure that financial distress doesn’t have to be part of the separation, too. The separation of assets is a key piece of any divorce, and when you have been in a marriage for a substantial amount of time, the chances are that you will have a large 401 (k) as a marital asset. How do you protect your retirement savings from being taken in the divorce?

Determine how you would like to handle your divorce: in court or out of court in settlement

The direction you choose to take in your divorce proceedings will impact how you go about handling the division of assets and protecting your retirement savings. If you choose to go through the courts to finalize your division of assets, ensure that you properly and transparently report all assets. A judge who learns that a person has been hiding assets will likely rule in favor of awarding an amplified amount to the spouse.

If you and your spouse decide to settle the division of assets outside of court, the process will likely be more rapid and less costly. This is a great option for a couple who is still on amicable terms. Because the proceedings are not open to the public and driven by a New Jersey Superior Court: Family Part judge, a separating couple can experience a much more flexible process, in many ways setting their own rules. The finalized agreement is, of course, subject to approval by the court.

To ensure a just division of assets and the protection of retirement savings, it is imperative that you ensure a fair settlement and, if possible, not take cash, or lump sum, payout, as it is subject to steep penalties. At the end of it all, one who receives a lump sum ends up receiving much less money and, unless immediate cash is required, loses out on their fair share in the division of assets.

Be aware of your assets, including your retirement funds

Be aware of your assets, including your retirement fundsA divorce is a business transaction. While it is emotionally trying and exhausting physical, mental, and financial resources, it is ultimately a legal arrangement to determine who takes what in the split. As such, it is important to make sure that you are clear about what your marital assets and your shared debt are. It is also important to have a firm handle on what your personal assets are, as they may be taken into question during the course of the divorce proceedings. What was the balance of your retirement savings when you got married? What is it now? Taking the initiative to know this information will save you stress and potentially money in the long run.

Check your prenuptial agreement

All income added to a 401 (k) during the course of a marriage is considered a marital asset and is therefore considered to be shared with your spouse. In the absence of a prenuptial agreement, the court will take responsibility for dividing the assets among spouses. However, if you and your spouse signed a prenuptial agreement, the court will rule based on the legally-binding agreements outlined within.

Be aware of the Qualified Domestic Relations Order

A spouse may take a Qualified Domestic Relations Order to their ex’s employer to ensure that they receive their fair share of the retirement account. A Qualified Domestic Relations Order is a court-ordered document that enables the spouse’s retirement administrator to swiftly and legally transfer retirement funds into the partner’s bank account. The entitled amount will reflect a deduction if you have paid into your spouse’s retirement fund during the course of your marriage.

Attempting to hide or resist marital assets such as retirement funds to protect shared marital assets improperly is not worth it. Seek the support of a skilled and experienced divorce attorney to help you protect as much of your assets as you can while complying fully with New Jersey Divorce Law and avoiding lengthy and potentially costly litigation with your spouse.

Contact A Brick Retire Savings Attorney Today

Attorney Peter J. Bronzino is committed to serving our clients across Spring Lake, Sea Girt, Point Pleasant, Toms River, and the greater Ocean County area in all divorce and family law cases.

Our unique approach supports our clients’ financial well-being, leaving them to focus on their emotional and physical well-being as they move into the next chapter of their life.

To schedule a confidential consultation with an experienced member of our firm regarding your divorce case or settlement, please contact us online or through our Brick, NJ office at (732) 812-3102.

COVID-19 “Shelter-in-Place” Divorce Attorney Monmouth and Ocean County NJ

Brick and Seagirt Divorce Attorneys helping clients prepare for a post-pandemic and post-divorce life they deserve.

COVID-19 “Shelter-in-Place” Divorce Attorney Monmouth and Ocean County NJFor people considering or in the process of divorce litigation, civil union dissolution, or filing for separation, the COVID-19 pandemic and “shelter-in-place” order may be the tipping point in their already stressful marriage. Whereas work, school, or other activities meant the possibility to avoid one’s spouse or partner, working and e-learning from home means once less-frequent activities, like cooking dinner together or sharing the same space for 24 hours, has significantly impacted the day-to-day living situation of many New Jersey couples.

Though some couples may consider isolation or self-quarantine as a period in which to create greater family dynamics, reevaluate their marital values, or work on their relationship intimacy, many others have become more committed to ending their marital union, as what may have previously been trivial matters escalate to incidents of increased tension and in the worse cases, domestic violence.

The uncertainty of the current COVID19/Corona virus situation and physical distancing means that the attorneys at The Bronzino Law, LLC are prepared to provide legal services in a safe, secure, confidential, and convenient way without compromising on quality. Our lawyers will fight to protect your rights and are ready to arrange convenient, free virtual consultation meetings via Skype, WhatsApp video, FaceTime, Zoom, or Google Hangout to discuss how we can best support you meet your legal needs.

The Bronzino Law Firm manages all divorce-related matters, including child support, child custody, division of assets, alimony and spousal support, and post-divorce modifications for clients across Ocean County and Monmouth County.

Contact us online or call us at (732) 812-3102 to arrange a free virtual legal consultation from the comfort of your home or office and with the convenience of your smartphone, laptop, or tablet. The Bronzino Law Firm, LLC, is prepared to protect your rights and answer your legal questions or family lawrelated issues.

8 Things to do for your Divorce During the Corona Pandemic

Here are some positive and actionable ideas, which are also a productive use of your time as you prepare for your NJ divorce.

  1. Collect the financial documents and paperwork necessary for the full financial disclosures, which are vital to the divorce process and are necessary before reaching any financial agreements related to child support, child custody, alimony and spousal support, and the equitable division of assets.
  2. Conduct a lifestyle analysis to realistically determine what your future post-divorce housing and budget may be like.
  3. Practice self-care, exercise, protect your mental health, and document your expectations for your post-divorce life and that of your children or pets if you have any. Write down your ideal living or co-parenting situation and the kind of future you envision for yourself.
  4. 8 Things to do for your Divorce During the Corona PandemicIf you have children, focus on protecting your child’s emotional and psychological well-being by providing a positive family atmosphere, keeping them calm and busy, and planning fun activities (i.e., watching online tutorials for cooking, exercise/dancing, music, arts & crafts, etc.).
  5. Take the opportunity to declutter your home and organize your things. Identify items or assets that are truly important to you and those prepared to donate or throw away.
  6. Avoid hostile conversations with your spouse, and if there are children present, aggressive confrontations could escalate growing familial unease and tension.
  7. Take a positive daily inventory, acknowledging what you learned, or are grateful for. It will help put your day in perspective and balance some of the negative or depressing thoughts you may have.
  8. Educate yourself. Whether it is online free language classes or apps, youtube tutorials, or skills-based technology programs, invest time in improving your future professional and personal development opportunities.

Isolation and the related feelings surrounding it may not be easy, but knowing that it won’t be forever can help you remain positive, keep an open mind, and maintain a patient heart. By effectively managing your time under the current situation, you are preparing to live the post-pandemic and post-divorce life you deserve.

Dealing with Divorce and COVID-19? Contact an Ocean and Monmouth County Divorce Attorney Today

The Family Law attorney Peter J. Bronzino has extensive experience helping clients with all divorce-related matters across Ocean and Monmouth County towns, including Toms River, Brick, Point Pleasant, Manasquan, and across the Jersey Shore.

At our law firm, we get to know the people we represent, determine what is most important to them in the divorce, then work with them to develop a strategy designed to meet their individual goals and needs.

Contact us online or call us at (732) 812-3102 to arrange a safe, secure, confidential, convenient, and free virtual legal consultation.

The Family Home and Divorce Lawyers Monmouth and Ocean County NJ

Helping divorce clients throughout Monmouth and Ocean County towns such as Toms River, Wall, Point Pleasant, Asbury Park, Spring Lake, Brick, and all of Eastern New Jersey

The Family Home and Divorce Lawyers Monmouth and Ocean County NJA divorce is a destabilizing event for all involved. In the case that the couple has children, that effect is amplified, as the emotional attachments developed in a home are difficult to let go of in the transition out of the traditional family structure. Because the home is likely the largest asset a couple shares, and its value is not only financial but also emotional, the decision about what to do with a home is a big one. Depending on the nature of the split and the relationship between the exes during the divorce, deciding what to do with the family home can cause emotional and financial upheaval that a divorce attorney can help mediate.

What do I need to keep in mind when I’m considering whether to keep the house in a divorce?

Even if it is mutually decided upon, there are many factors that need to be considered before stepping up to keep the home in a split. One of the most important – and yet most difficult – things to keep in mind is that all decisions regarding the division of assets would best be done objectively. For this reason, getting support for mediation is often a wise decision in the asset division process.

What is your reason for wanting to keep the home? If it is strictly emotional, it would be wise to take a full inventory of the pros and cons of keeping the home.

What are your financial capacities, and do the costs of house upkeep – including mortgage, insurance, property taxes, and repairs – make sole ownership of the home a worthy and sustainable investment?

What is the family’s financial position, and as such, what will be the interchange? What will you have to give up in order to get the home? It is unlikely that an ex will hand over the home without some interchange. Some common things you may need to be prepared to give up your rights to your ex’s pension or other marital assets like land, cars, or savings accounts and other equities. With the support of a divorce attorney, review your family’s finances in order to have a well founded view of what an even exchange would be for full ownership of the home.

Is home co-ownership an option?

Is home co-ownership an option?In a situation known as nesting, children stay in the family home and divorced parents take turns in the home with the child. This is especially effective for young children in order not to destabilize their routines, and for children who attend quality neighborhood schools. In some cases, one parent moves out of the home, but the couple continues to co-own the home so that their child can continue to attend school in the house’s school district.

Aside from the obvious benefit of providing a stable home for the children, there are financial benefits to co-ownership. First and foremost, there is no need to refinance the home. The financial upheaval of division of assets is, for this reason, somewhat tempered. However, one must take into clear account what it will mean to continue to be in a relationship with your ex in order to make a situation like nesting, or even co-ownership in the absence of one partner. A mature and communicative relationship is a necessity for any co-ownership agreement.

In the case that the couple decides to split their shared assets within the home, good communication and organization are key to ensuring that the property is distributed with discernment. Schedule a time to tour your home with your spouse to make a list of each shared item. One tactic is to record this list in a computer or technological advice so that you can add the items it is easy to split at the top. When the list is complete, this will allow for a conversation to easefully commence, separating items and appraising their value. Then move on to items that are more difficult to part with for each party. Don’t rush decision making. This could be a rolling process. The important thing is to approach joint decisions such as this one from a place of calm, collaboration, and objectivity.

Experienced Divorce Attorney Handling Amicable and Fair Separation

Peter J. Bronzino, our divorce attorney is experienced in supporting New Jersey couples across Asbury Park, Spring Lake, Brick, and all of Eastern New Jersey in an amicable and fair separation.

Our unique approach focuses on ensuring that the financial and emotional needs of each partner in the split are met and that the family experiences as smooth a transition into their new lives as possible.

To speak with an experienced member of our firm about your divorce, please contact us online or through our Brick offices at (732) 812-3102.