Drafting Effective Separation Agreements
A separation in the state of New Jersey can involve a separation agreement or what is referred to as a “bed and board” separation. Separation agreements involve a contract between a husband and wife detailing how the division of assets, custody of children, alimony, and assignment of debt is to be handled prior to a divorce. Bed and board separations allow a couple to be economically divorced while still legally married. At Hartstein & Hartstein, our attorneys have the experience and resources needed to advise and represent clients regarding both kinds of separation. Since financial and legal considerations are involved in both, our lawyers review our client’s financial and job situation in order to determine how best to protect their interests.
If you’re unsure of what steps to take in seeking a separation, contact Hartstein & Hartstein today. We’re available for free phone consultations, explaining the issues involved and what you can do to avoid future complications.
Separation agreements are important for protecting both your rights and financial interests prior to a divorce. A separation agreement articulates the terms governing the division of property, custody of children, visitation rights, and other important matters leading up to a divorce. Once a separation agreement is in place, the assets and debts held between you and your spouse are finalized. Consequently, once you have terminated all of your joint credit cards, you can’t be held liable for any new debt your spouse incurs during this time nor can your spouse convert mutually held marital assets in order to take the proceeds for themselves.
Bed and Board Separation
Couples who are opposed to divorce for religious reasons often choose a bed and board separation, though there are other reasons for considering one as well. For instance, since a couple is not legally divorced, they are still eligible to receive medical and retirement benefits under the name of the spouse they are separated from. For older couples facing health care concerns, a bed and board separation is an effective means for deflecting insurance costs while ensuring a certain amount of financial security as well.
Determining the Best Option for You
Tolstoy said, “Happy families are all alike; every unhappy family is unhappy in its own way.” That means what works best for one family may not work for another. That’s why our family law attorneys work closely with our clients in order to achieve the best possible solution, customized to the unique demands of their situation.
To discuss your case over a free phone consultation, contact the law office of Hartstein & Hartstein today. We can help you find the answers you’re looking for. Contact us online or call us at 201-399-4276.