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New Jersey Legal Blog

A court case to note re transferred divorce assets, Part 2

We referenced in a recent blog post what one national publication termed “a really big case” in the realm of divorce-linked asset transfer and distribution. Our November 15 post focused specifically on the common scenario involving the transfer from one divorcing spouse to the other of company-sponsored retirement funds and individual retirement accounts, respectively.

As we noted in that entry, monies held in 401(K) and IRA accounts are typically deemed safe from creditor’s reach. They are regarded by law as protected retirement vehicles. The above-cited Investment News article stresses that they are “untouchable by creditors.”

Court decision spotlights transferred retirement accounts in divorce

Divorce commentators commonly stress that marital splits often have some commonality regarding their core issues, but that there is no such thing as a “typical” divorce. The divorce process poses unique challenges and opportunities for every separating couple in New Jersey and nationally.

We keenly appreciate that at The Law Office of Rajeh A. Saadeh in Somerville. Our deep legal team knows that the legions of diverse and valued divorce clients we have diligently represented over the years come to us with singular concerns. We note on our website that individuals seeking our family law guidance can rest assured that our approach to their important matters “begins with an honest and straightforward analysis” of what is fundamentally at stake.

Wells Fargo errors caused hundreds of wrongful foreclosures

Yet again, Wells Fargo has been exposed for negligent or shady lending practices. The bank’s unforgiveable errors have directly led to more than 500 homeowners losing their houses to foreclosure.

The homeowners, who had applied for mortgage loan modifications under a federal program, were incorrectly denied because of a software glitch. Sadly, such clerical errors are all too common in the lending industry. Homeowners can fight foreclosure actions, but in this case the damage was already done. Hundreds of families were evicted from their homes before the error was discovered.

The shifting winds of alimony

Will there be alimony in your divorce? On the one hand, spousal support (alimony) is not as common as it used to be. Women are more self-sufficient than in the past – in fact, many modern women are the breadwinners in the household.

On the other hand, the pay gap appears to be widening for men. This is especially true in male-dominated industries such as tech and finance. High earners are more likely to pay alimony, especially if the husband earns substantially more than the wife.

That tax return could spotlight a spouse’s concealment of assets

If you’re a soon-to-be former spouse engaged in New Jersey divorce negotiations while worried that your impending ex is hiding marital assets from you, schedule a date.

With your schedules.

In divorce filing, does the early bird get the worm?

Clients sometimes ask if it’s better to be the spouse who initiates divorce. From a legal standpoint, there is no surefire advantage to filing first. It should have no bearing on the court’s rulings regarding property or custody or financial support.

From a practical standpoint, the spouse who is served with divorce papers is at a disadvantage. The filing spouse has a head start on the details and perhaps a psychological “shock and awe” edge. But any initial advantage may dissipate.

Report underscores strength of NJ manufacturing real estate sphere

How goes the New Jersey manufacturing real estate market?

Reportedly, quite well, with a solid batch of empirical evidence culled from across 2018 strongly supporting the assertion.

Beware the unforeseen issues of gray divorce

Discussions about gray divorce – getting divorced past the age of 50 – often focus on dividing retirement assets and other financial matters.

There are numerous consequences associated with gray divorce: not just employment and economics, but social, emotional and health ramifications. It is important to prepare yourself for all of the changes that may occur.

Prenuptial agreements: growing in acceptance, but still … .

We preface a page devoted to marital contracts on our family law website at The Law Office of Rajeh A. Saadeh in Somerville with the stated viewpoint of many people concerning that subject matter. Those individuals, we note, “say prenuptial agreements are contrary to the basis of marriage.”

Are they? Do prenups truly merit what a recent article terms their “terrible rap in pop culture?” Are they love killers and marriage breakers?

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