Divorce proceedings involve many considerations. One important aspect is the division of marital assets. In the state of New Jersey, the principle guiding this division is "equitable distribution." Equitable distribution Equitable distribution does not imply a strict...
Union New Jersey Family And Bankruptcy Law Blog
How to approach divorce as a business owner in New Jersey
Here in New Jersey, entrepreneurs play a critical role, with nearly a million small businesses in the state, according to the U.S. Small Business Administration. For New Jersey business owners, divorce can be a complex undertaking. The process involves assessing the...
What homeowners should know about New Jersey eminent domain
New Jersey homeowners should become familiar with eminent domain. The government can acquire private property for public use that benefits the overall community. Reviewing eminent domain laws can help you understand your rights if you face this challenging situation....
How long does Chapter 7 bankruptcy affect someone’s credit?
Many people put off or avoid bankruptcy because they worry about credit-related repercussions. They know that they will need to buy a vehicle in the near future or they hope to buy a house. They don't want their current financial struggles to prevent them from having...
How do courts make child custody decisions?
Child custody decisions in the legal system play a pivotal role in determining the well-being of children affected by divorce or separation. The court is responsible for making these decisions, and understanding the process is essential for parents seeking custody....
Are contingencies and deposits essential when buying a house?
Many homebuyers may find themselves in unfamiliar territory when faced with the intricacies of a purchase agreement. Because of this, they may sometimes overlook important clauses in the document. Contingencies and earnest money deposits are among these critical...
What is liquidating assets in bankruptcy?
The United States Courts reported 387,721 bankruptcy filings in 2022. One of the most important aspects of this process is liquidating assets. If you file Chapter 7 bankruptcy, you should understand what liquidation is and how it works. Liquidation defined Asset...
What is a hardship discharge in Chapter 13 bankruptcy?
If you find yourself struggling to pay your debts, filing for Chapter 13 bankruptcy is a potential solution. This allows you to restructure your debts and create a manageable repayment plan. As long as you follow the repayment schedule, you should successfully emerge...
Can a prenuptial agreement be invalid?
Prenuptial agreements are legally binding contracts that are supposed to take care of assets, debts and financial expectations in case of separation or divorce. But what if, down the road, one partner questions the very foundation of this legal contract? What are the...
What are common provisions in a real estate contract?
Selling a home or other piece of real estate is often the largest transaction of our lives. These deals can run in the hundreds of thousands and can reach millions. When navigating these transactions, it is important to have a clear understanding of everyone’s...