Apart from the custody of children, the division of marital property and debts is one of the biggest disputes that couples confront during divorce. Many people carry the false conviction that, following a divorce, marital assets must be divided equally. Who will keep what after a divorce depends on a number of elements, including the laws of the state in which the couple lives or where the divorce is filed.
Wendy Williams, a prominent television host, filed for divorce from her husband, Kevin Hunter, putting an end to their marriage of 21 years. Before filing for divorce, the couple was living together in Livingston.
Divorce settlements are never straightforward, and this year, they became even more intricate. The federal government's sweeping overhaul of the tax code reformed many of the calculations that influence divorce. Many New Jersey couples learned this year how tax code changes affected their return, with some people owing more than they had expected. Many divorce experts believe that the amendment will make negotiations tougher.