Tag: Spring Lake NJ Divorce Attorney

Paying For Your Ocean or Monmouth County Divorce

Paths to Paying For Your Ocean or Monmouth County DivorceThere are many questions that can arise when contemplating a divorce. Child custody, child support, equitable distribution of assets and alimony are but a few. However, one of the most common factors that keep people in unhappy marriages is the belief that they simply can’t afford to enter into the divorce process.  The truth is that there are many avenues that can be taken to pay for a divorce. A critical look into your finances may reveal that divorce may be the best economic path in the long run.

The Bronzino Law Firm LLC, has represented clients in divorces in communities across New Jersey including Asbury Park, Neptune, Wall, Manasquan, Point Pleasant, Brick, Jackson, Sea Girt, and across Monmouth and Ocean Counties. We understand that divorce is complicated. We provide effective and personalized legal solutions, at aggressive rates, with a client-centered approach.

Contact our Brick or Sea Girt offices today by calling 732-812-3102 for a free and confidential consultation regarding your case.

Paying for Your Ocean County Divorce

Paying for a divorce is not as complicated as it may seem on its surface.  There are many sources of income that can be used to gain your independence through the divorce process.

  • Savings.  Funds in a joint account or a separate account can be used to pay counsel fees.  It is important to remember that any funds you use will still be subject to equitable distribution in the divorce.  It is common for both spouses to use savings to pay for their counsel fees. Commonly spouses agree to split the accounts and each party can use their share for their own counsel fees.
  • Credit Cards.  Depending on how much credit you have available credit cards are a convenient way to finance your divorce.  Though not the most desirable way due to interest charges, the entire cost of many divorces is paid for using credit cards.  The reasoning is that if you are going to get a share of assets, such as equity from the house or other investments that you can liquidate at the resolution of the divorce, you will be able to pay off the credit cards later.
  • Home equity loan or line of credit.  It is common for homeowners to have an open line of credit or funds from a home equity loan.  However you must remember that any funds you use against the home will be considered later in the overall context of equitable distribution.  If the house is in your spouse’s name it is possible to make an application to the court obligating your spouse to open a line of credit for your legal costs.
  • Investments.  Investment accounts such as mutual funds, brokerage accounts, stock or bonds, can be liquidated, or partially liquidated, to get cash.  It is normal these types of accounts to also have a cash component so you may already have cash available.  If these accounts are in your spouse’s name, you can receive a court order obligating your spouse to liquidate the account to distribute to both of you to use for counsel fees.
  • Retirement Accounts.  A 401(k), IRA, Roth IRA, or similar account, can be liquidated for cash.  However there are taxes and usually substantial penalties that may apply. It is advisable to consult your accountant or financial adviser if you are concerned about penalties.
  • Pension.  Although you cannot cash out a pension like you can a 401(k) or IRA, often times you can take a loan against it.  There are restrictions on how much you can borrow and how you pay it back. Your financial adviser is usually able to provide you with the information about how this can be done.
  • Whole Life Insurance.  A whole life insurance policy, may have equity that you can cash out or borrow against.
  • Personal Loan.  You can apply for a loan at a bank or borrow funds from a friend or family member.
  • Divorce loans.  There are many loan options available through banks and some of which are specifically provided for divorce litigation.

Financial Benefits of Divorce in Monmouth County

When contemplating the overall cost of divorce it is important to look not just the what you will be paying but what benefits you will be granted.  These include but are not limited to:

  • Easier budgeting and greater control over money. Fights over money and financial priorities are one of the most common factors leading up to divorce.
  • Early access to a retirement fund, penalty-free. A divorce is one of the very few times a person can take money out of a retirement account early and not pay an early withdrawal penalty.
  • More college financial aid for the kids. The Free Application for Federal Student Aid only requires financial information from the custodial parent rather than both parents. This may translate to greater awards of financial aid.
  • Social Security perks for older divorcees. Divorced spouses may be eligible to file for Social Security spousal benefits at retirement if you were married to your spouse for at least 10 years.
  • Opportunity to reset financial priorities. Finance experts say the opportunity to rethink priorities and start fresh can be a positive.

Contact our Experienced Toms River Divorce Attorneys Today

The divorce attorneys of the Bronzino Law Firm, LLC have extensive experience guiding and representing clients through all kinds of divorce and family law matters in towns including Toms River, Brick, Ocean, Point Pleasant, Red Bank, and across both Monmouth and Ocean Counties. Since opening our doors our firm has believed in aggressively and zealously representing our clients and using every possible legal tool to help them realize the best post-divorce life possible. 

For a free and confidential consultation, please contact us online or through our Brick and Sea Girt offices by dialing (732) 812-3102 today.

Spring Lake NJ Divorce AttorneyWhen you are beginning the divorce process, one of the first things that you should most likely do is to hire a divorce attorney. This process can often involve meeting with several different attorneys until you find one that you feel comfortable with, and whom you believe can best represent your unique needs and concerns in the key divorce areas of child custody, child support, alimony, and marital asset division.

However, rather than simply meeting with a prospective divorce attorney and seeing what happens, it is often much better if you can be prepared with several questions to ask your potential divorce attorney, questions which will give you insights into the type of divorce attorney you are hiring, how they plan to handle your divorce, and what kind of payment structure will be put into place.

“What Experience Do You Have Handling Similar Situations and Divorce Matters?”

Spring Lake Divorce Attorney

First and foremost, the experience that your Spring Lake divorce attorney has does matter, and can go a long way towards successfully and effectively resolving your divorce.

Although every family’s situation and needs are different, if your divorce attorney has experience handling divorces with similar concerns or situations, in the areas most important to you, this experience can go a long way towards informing you more accurately of your options, and resolving your divorce in ways which most accurately reflect your unique needs, concerns, and goals.

So, when you meet with your divorce attorney, be sure to ask them what kind of experience they have handling cases and situations similar to your own.

“What Will Be Your Approach to Resolving My Divorce and Its Related Issues?”

Toms River Divorce Lawyer

Each lawyer and law firm will have their own way of approaching and resolving the cases they handle. When it comes to family law and divorce, much of the way in which your attorney will approach your case depends on the specifics of your situation.

For example, how willing are you to compromise on certain matters? How willing is your current spouse? If your attorney doesn’t ask you these questions in response to your own, chances are they will not provide you with the attentive and effective service that you deserve.

“How Much Will My Divorce Cost?”

Point Pleasant Divorce and Family Law Attorney

Finally of course, if you are interested in retaining the services of the attorney you are speaking with, you will want to ask them about the cost of their sercvices, and the projeted cost of your divorce.

In our article from several weeks ago, we discussed this particular aspect of hiring a divorce attorney in great depth. Part of what we discussed was the difference between flat-fee payments made to divorce attorneys and retainer fee agreements, so please view that article for more information.

The bottom line, however, is that a truly effective divorce attorney will not be able to give you a definitive number when it comes to the cost of your divorce. Rather, you should look for a divorce attorney who seeks to gain a thorough understanding of your situation, the desired outcomes of both you are your spouse, how those outcomes match-up and/or conflict, and who can give you a sound estimate for the cost of your divorce based on those factors.

Contact An Ocean County Divorce Attorney Today

At The Bronzino Law Firm, we have extensive experience favorably and effectively resolving divorce and family law issues of all kinds for clients in towns across New Jersey, Ocean County, and Monmouth County, including Spring Lake, Point Pleasant, Toms River, Brick, Jackson, Howell, Middleton, Sea Girt, Wall, and more.

Attorney Peter Bronzino strongly believes in keeping each of his clients highly informed and involved throughout the legal process, and further believes that by listening closely to the unique needs, concerns, and situations of his clients, he can better work to achieve the types of resolutions which best meet those same needs and concerns.

To speak with Peter Bronzino and our legal team today in a free and confidential consultation regarding your divorce, any of its related issues of child support, child custody, alimony, and the division of assets, any kind of post-divorce modification or enforcement matter, or any other kind of family law issue you may be facing, please contact us online, or through our Brick, NJ office at (732) 812-3102.

Leaving the Home During Divorce and Your Child Custody Agreement, Toms River Temporary Custody LawyerLiving with a spouse whom you are in the process of divorcing can be extremely difficult for many reasons, even in the most amicable of situations. In more contested divorces, leaving the home you share with your spouse and possibly your children may be the best thing for every party involved.

However, unless you are concerned about incidents of domestic violence or abuse, it is highly recommended that you speak with an experienced Ocean County divorce lawyer before actually leaving your home during a divorce, as this decision may have ramifications down the line in terms of your final child custody agreement as well as potential financial ramifications.

Leaving the Home During Divorce and Your Child Custody Agreement, Toms River Temporary Custody Lawyer

By leaving the family home, you may be establishing the precedent that your spouse is the primary caretaker of your children. Once this precedent is established, it can be difficult to convince a family court to breakup the stability that your children have grown accustomed to with this new arrangement, meaning you may not get the kind of parenting time or child custody that you really want.

However, if before leaving your home, you and your Toms River temporary custody lawyer file a motion requesting a temporary child custody hearing, you can establish a more balanced parenting time schedule during your divorce itself, thereby protecting your parental rights when it comes time to decide a final child custody and visitation agreement.

While temporary custody agreements are not taken into consideration when determining a divorce’s child custody agreement, the mere fact that you have established a more balanced parenting routine throughout the divorce process will go a long way towards ensuring you and your spouse are on equal footing when making these final agreements.

Financial Considerations for Leaving Your Home during Divorce, Spring Lake Divorce Attorney

While leaving your family home will not impact your marital rights to equitable distribution of your home, or any other jointly owned asset, it can have certain financial consequences which bear consideration before making a decision one way or another.

One such consideration is the cost of maintaining two different residences, and what assets you use to pay for this added cost. For example, if you have been traditionally dependent on your spouse for financial support, you may wish to file for temporary alimony during your divorce before an alimony agreement can be reached in order to help you cover this new expense.

Conversely, if you will pay for the expenses associated with this new residence, will you do so with marital assets, or your own individual assets? If you are using a joint bank account for example to pay your rent, you may have to “pay back” this money in your final division of asset agreement.

For a better understanding of how you can pay for the expense of a new residence during your divorce so that you can leave the marital home, and the various options and considerations that comes along with such a decision, call our office to discuss your unique situation in a free and confidential consultation today.

Domestic Violence and Divorce Attorney, Jackson NJ

So while it is certainly a good idea to contact a lawyer before leaving the family home during your divorce to discuss your options regarding child custody and finances, when it comes to domestic violence and abuse, securing the safety and health of you and your children take priority.

This means leaving the family home, and then taking legal action. In situations where incidents of domestic violence or abuse have occurred, a temporary restraining order (TRO) can very easily be obtained, and in many cases a TRO will state that the abuser needs to leave the home (even if the home is solely in the abuser’s name), allowing you and your children to return to the family home. Of course, you will most likely want to consult with an attorney regarding your final restraining order hearing, but in the short-term a temporary restraining order is a great way to protect the health and safety of you and your children.

However, if you leave your home because of domestic violence or abuse, but then take no legal action, you will face the same consequences to your final divorce settlement agreements listed in the sections of above as their is no legal proof of the abuse or violence. Even more importantly, if you leave your family home during divorce and take your children with you due to domestic violence issues, and subsequently do not take legal action, you can be charged with kidnapping, a criminal offense which can very negatively impact your life in a variety of ways!

Contact A Brick, NJ Divorce and Family Law Firm Today

At Bronzino Law Firm, we have extensive experience helping our clients to successfully navigate the entire divorce process, and reach fair and favorable child custody, child support, alimony, and marital asset division settlements in towns across New Jersey, Ocean County, and Monmouth County.

Attorney Peter Bronzino strongly believes in working closely with each of his clients, and further believes that by doing so, he can achieve the kinds of resolutions which most accurately reflect the unique needs and concerns of his clients, and their families.

To speak with Peter Bronzino and our legal team today in a free and confidential consultation regarding your divorce, your options for protecting yourself legally and financially when leaving the family home during the divorce process, any kind of domestic violence or restraining order matter, or any other divorce or family law issue you may be facing, please contact us online, or through our Brick, NJ office at (732) 812-3102.