Choosing a family law attorney can be a difficult task that we all must face at one time or another. However, it is important to remember that a family law attorney does much more than help with divorce proceedings. They may assist setting up a trust fund, a living will or help get any number of legal documents in order. NJ family law attorneys help protect both families and assets. Even though selecting one seems like an arduous task, there are some areas to think about which can help individuals select the right one for their particular set of circumstances. Hiring a family law attorney does not have to be so difficult if you consider the following topics. Choosing the best attorney can help reduce the hassles that many times accompany legal cases.
Upon choosing to get a divorce, most couples will choose a NJ family law attorney to handle the entire legal proceeding. For individuals obtaining a divorce in New Jersey there are some clear cut calculations which are used to determine any child support that is to be paid. But it is not that simple to determine spousal support, or alimony. NJ alimony laws offer some very general guidelines for determining how much spousal support, alimony or divorce maintenance will be applicable in any particular case. But since the two are severing their financial ties by getting a divorce it can be a very difficult calculation.
When a couple divorces in the state of New Jerseyand there are children involved a family law attorney can help them understand how child support will be determined. There are several factors which are used to determine how much child support will be paid and to whom. In New Jersey supporting the children is the continuous duty of both of the parents. This duty will continue until a court order states otherwise or the children are emancipated. If one of the parents desires to terminate their obligation to pay child support they are required to file a petition with the court. Unless this is done child support is the obligation of both parents based on their level of income, their ability to earn an income and their assets.
It has not been very long ago that civil unions did not exist in New Jersey. Before the Domestic Partnership Act the only option for same sex couples was to create a domestic partnership, but the benefits were limited. One the NJ Domestic Partnership Act passed couples had to option to keep their status as a domestic partnership or convert it to a civil union. In order to convert to a civil union, parties can obtain a civil union license application from the local registrar’s office. When a couple enters into a civil union, the domestic partnership is automatically terminated.
Generally speaking, most family members can make decisions together concerning their lives without any type of intervention from outside sources. But there are those times when a family law attorney should be consulted for advice or legal counsel. When a divorce occurs an attorney who is familiar with NJ family law can help couples or families sort through the facts and come to resolutions. Most of the time, NJ family law concentrates on divorce or issues pertaining to child custody but there can be other reasons that a NJ family law attorney is needed. Here are some of the questions commonly asked about NJ family law.
There are many different types of trusts that are created for a wide variety of purposes. One of the most common trusts is a Testamentary Trust which is typically set up for a young child, a relative with a disability, or any other person who inherits a large sum of money upon the death of a testator. This type of trust is commonly contained in a will which provides how the estate or part of an estate is to be distributed. Sometimes it is preceded and enacted by a life insurance policy that was held by the person who is establishing the trust. Sometimes there is more than just one testamentary trust set up with one will. Many times this type of trust is set up when there are large amounts of money that are to be distributed to minor children or young adults. The trust will be set up so that the child(ren) have someone else who will be responsible for handling the money until the child becomes mature enough to handle it responsibly.
Trusts are all very similar in nature whether they are created to protect assets, develop estate planning, or provide private benefits. However, trusts do not have to deal with the same type of property and they are not all created for the same purpose or in the same manner. There are many different types of trusts that can be created partly because of the wide variety of purposes and individual needs. A trust can be created by almost anyone and they have different time periods, and they may have any amount of money or property involved. Until recent years, trusts were limited to only the wealthiest; and used for the sole purpose of being able to pass their wealth on to the next generations in a private manner. Today, families can use trusts to protect the equity in a family home or some savings that have been accrued for retirement or college. This ensures that the assets are protected. Trusts are very flexible therefore it is beneficial to speak with a legal expert when developing a trust for any purpose. There are three basic ways to classify trusts: by its purpose, as living or testamentary, or as revocable or irrevocable.
A trust is a legal arrangement which can be a very important tool for either a business or an individual. There are several different types of trusts that can be formed and they each have their own benefit. In order to understand the benefits of a trust, it is important to first understand exactly what it means legally. It is also important to know precisely how a trust works.
Many people do not have a good understanding of what a trust is; or how it is different from a will. There are many different types of trusts but the main purpose and benefit of having a trust is to keep a person’s estate out of probate after they have died. The biggest difference between a trust and a will is that upon death the property will not enter probate.
Even with a will in place, property has to go through probate, the court system, to determine all the different legalities of the will and how the properties are being dispersed. During the process of probate a lot of the estate will be consumed by taxes and sometimes by attorneys. By creating a trust, you transfer property, assets, securities, bank accounts and real estate to someone you “trust” while you are still living and it will carry over when you die.