Articles Posted in Marriage

Woman balancing caring for two children while working on laptop computer and talking on cell phone, symbolizing default parent syndrome.“Default Parent Syndrome” happens when one parent takes on the role of primary caregiver and household manager. Often, this role goes beyond everyday chores, like packing lunches and checking homework, to anticipating everyone’s needs before those needs even arise. At this point, the role that can become overwhelming and lead to the breakdown of relationships.

Today there seems to be an increase in ‘default parent divorce’ spurred, in part, by the fact that many mothers – the typical ‘default parent’ – now try to balance this role with their careers. The financial independence they’ve achieved through their careers opens more options for them. But divorce doesn’t have to be the answer. To learn more about ‘default parent syndrome,’ how it can damage relationships between partners, and what can be done to fix that damage, read “’Default Parent Divorce’ Is On The Rise – & It’s About A Lot More Than Chores.”

Focus on man's hands removing wedding band as he contemplates getting divorcedMost people do believe marriage is a life-long commitment, and they don’t take the vow “to death do us part” lightly. But every marriage has its ups and downs and the disappointments and frustrations that come with the lowest downs can cause couples to question whether they should stick it out or go their separate ways.

Just like marriage, though, divorce is a serious decision that shouldn’t be entered into lightly. Before taking such a huge step, couples should ask themselves some soul-searching questions to determine whether it is, in fact, the right decision for them. For a few examples, read “Is Divorce The Right Answer? 16 Questions To Ask Yourself Before Making A Final Decision.”

Risks-for-Divorce-300x200Most couples would agree that a successful marriage doesn’t just happen; it takes commitment, communication, and compromise. Yet even the most compatible couples face challenges, particularly when going through major life transitions – having children, major career changes, losing a job, retiring, facing a health crisis. Events like these present stressors that can put a strain on the healthiest marriages.

Did you know, however, that the risk of divorce can also vary based on the number of years you’ve been married? There are different stressors that affect us as we age and impact the state of our marriage. To learn more, read “Jennifer Lopez and Ben Affleck split: What’s your divorce risk by years of marriage?

Couple with house key walking up to white home with window flower boxes.Married life may not be for everyone, but living with your significant other comes with its own set of financial challenges. Sure, cohabitating couples enjoy some of the same financial benefits their married friends do, namely shared living expenses: one mortgage or rent, shared utilities, combined grocery bills, etc. However, this type of living arrangement has some economic drawbacks.

Did you know that if you aren’t married but open a joint bank account with your partner, half of all deposits you make to that account are considered a gift to your partner? And, if over a certain dollar amount, those “gifts” must be declared as such on your partner’s tax return? Also, despite your commitment to each other, you are not considered family when it comes to medical matters, nor will you be each other’s default beneficiary. Before committing to not tying the knot, be sure you have the right legal documents in place to protect your financial interests. To learn more, read the Forbes article, “Unmarried and Living Together? Be Aware of These Financial Challenges.”

Divorce-Tax-Returns-FL-blog-300x200It’s that time of year again when most of us are sitting down to prepare our income tax returns, or at least thinking about it. If you are newly divorced, don’t neglect to consider the impact that change may have on your tax returns.

One of the biggest changes may be in your filing status. Don’t be in too much of a hurry to check the ‘filing single’ box, though. Filing status is determined largely by your marital status as of December 31 of the tax year you are filing for. So, unless your divorce was finalized in 2022, you still need to select one of the married options when filling out your returns this year.

Filing status isn’t your only consideration. There may be changes in reportable income and deductions that you should be aware of, as well. To learn more, read “Do You Know How Divorce Will Affect Your Taxes?

virus-family-400-07327825d-300x200During these unsettling times, now is when you need to focus on your family and to make sure we all are doing everything we can to stay healthy. For information on how you can best protect your family from the Coronavirus, please visit the CDC website.

Please visit our website page for more information about Kearns Rotolo Law’s response to the Coronavirus.

Working together we can make a difference.

wedding-costs-400-04628844d-300x199If your dreams of the perfect wedding include lavish venues, exclusive designer gowns, gourmet food and star-studded entertainment, your marriage could be in trouble before it even starts.

A recent survey found that almost half of those couples who went into debt to finance a lavish wedding eventually considered divorce, citing money as the reason. That’s in sharp contrast to their more frugal counterparts who managed to keep their wedding plans within budget; less than 10% of the couples in this group later considered divorce. Why would the cost of a wedding have any affect on the longevity of the marriage? Read “Couples who go into wedding debt are more likely to consider divorce” to find out.

Photo of "To Do" list written in black ink on white paper with green markerYoung New Jerseyans are waiting longer to walk down the aisle, get married and start families, according to the 2011-2015 American Community Survey. And that’s if they get married at all.

Data from the survey indicated that the median age of New Jerseyans getting married for the first time increased by about one year since the last survey was conducted and that the number of residents that have never married has increased by about 5%.  Read “The slow death of marriage in New Jersey” to learn about the factors contributing to this trend as well as the future financial implications it can have.

naem-change-400-04417572dChanging your name in New Jersey requires court approval following a process designed to ensure the name change isn’t being requested for unlawful or deceptive purposes. The exception to this is a name change due to marriage and/or divorce.

Adopting your spouse’s name after marriage or resuming your maiden name after divorce can be effected socially simply by using your new name. Officially, however, there are certain agencies, such as the Social Security Administration and the Motor Vehicle Commission, you must notify in order to change your name. Your certified marriage license serves as proof of your right to use your spouse’s name if you so choose. In relation to divorce, your desire to resume use of your maiden name should be stated in the divorce decree. This document can then be used when applying to the appropriate agencies for your name change.

Planning a wedding or negotiating a divorce are complex, emotional events, so it would be easy to overlook an agency or institution you should notify about your pending name change. This name change checklist can help.

prenuptials-400-08291531dThere was a time when prenuptial agreements were associated mostly with celebrities and the very wealthy. Today, however, couples frequently wait longer to marry. They enter these unions after first building careers and accumulating financial assets independently. Conversely, they also bring individual financial liabilities to the relationship as well. As a result, prenuptial agreements have become more commonplace now than they were with previous generations.

Discussions about money can be uncomfortable for even the most compatible couples, yet financial issues are often cited as at least a contributing factor in relationship break-ups. The time to discuss who owns what and how money should be handled during the marriage is before the couple says, “I do.”

What should be included in a prenuptial agreement depends not only on the terms the couple has agreed upon, but also on the laws governing marital property, divorce and alimony in the state where the couple resides. Jamie Schoen’s article, “5 Things to Think About When Considering a Prenup,” poses questions couples should ask themselves before drawing up this legal agreement.

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