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Divorce is a life changing event.  Moving on after divorce is challenging regardless of your circumstances.  A significant part of this challenge is making sure that you are separated from your former spouses’ financial obligations.  Credit card companies do not have to and most of the time will not remove a signed party from an obligation to a debt. For this purpose it is important that couples close all joint accounts. Typically, creditors such as credit card companies will allow a party to close an account and open a new account in his or her own name and transfer the amount agreed in the divorce to the new account. This of course depends on the individual’s credit.  What if you agreed to deed the marital home to your former spouse, does this terminate your obligation on the mortgage?   In order to terminate your obligation, your name must be removed from the mortgage, not just the deed.  In order to accomplish this, it is important that your former spouse refinance and remove your name from the mortgage obligation.  These are just a few examples of issues that need to be addressed after a divorce.  An experienced matrimonial attorney will address these issues with you.  Contact an experienced attorney at Iandoli & Edens, LLC today at (908) 879-9499.  We are here to protect your rights.

In a divorce, businesses are treated as assets and subject to division between the parties.  Obviously, the party who owns the business usually continues to operate it, but will typically owe the other spouse money or a credit against another asset for his or her spouse’s marital share of the business.  Owning a business during a divorce usually requires (1) that the value of the business be ascertained; and (2) that the spouse’s share be determined.  The value of the business is usually determined by a forensic accountant trained and qualified to conduct business evaluations.  The other spouse’s share of the business is usually negotiated.

To learn your rights about a business interest during a divorce, call one of the attorneys at Iandoli & Edens at (908) 879-9499.

Have you recently been laid-off from work or received a drastic decline in salary? Are you having trouble meeting your child support or alimony payments due to the substantial and permanent change in your financial circumstances? Do you feel as if there is no place to turn?

There is no need to stress about your financial worries when you can file an application to decrease support with the Court. Although the Court system is there to review your case, there is a two-step process you must first complete before a Court will entertain any downward modification in support.

First, you must submit an application disclosing your dire financial position. The application should be complete with documentation and financial information to aid the Court in analyzing your financial circumstances. The Court can only grant your application if you successfully show a prima facie case for modification. The Court must be satisfied that you fulfilled the first step by successfully illustrating an involuntary change in circumstance that has permanently and substantially impaired your ability to fulfill your financial support obligations. In the event you are unable to meet this criteria, your application will be denied. Consequently, it is important to utilize the services of an attorney who understands and is familiar with the legal criteria needed to help you proceed to level two.

After the Court finds you have established a prima facie case for modification, the next, and final step, is scheduling a final hearing to determine the extent of your financial circumstances. Prior to advancing to the final hearing however, many Courts will first require that you exchange discovery, such as Notice to Produce Documents and Request for Interrogatories, with the opposing party. You may need to submit to oral Depositions. The Court may also require that you participate in alternative dispute resolutions, such as mediation or attend an Early Settlement Panel to help settle the matter without further use of the Court’s resources. In the event you are unable to settle your matter, after witness testimony and the presentation of evidence, the Court will evaluate your matter to determine the extent of the change in your financial circumstances.

Contact an attorney at Iandoli & Edens, LLC to learn more. We are experienced attorneys equipped with the proficiency you will need to get you through a change in circumstance application. Do not delay any longer.  Call today. 908.879.9499.

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