If you are going through a divorce, you will want to be familiar with the following key terms. Continue reading to learn more and do not hesitate to reach out to our skilled Morris County NJ divorce lawyers today. We are here to help you with any divorce or family law concerns.
What are the most important terms in a divorce?
There are a number of key terms that you should understand if you are going through a divorce in New Jersey. Some of them include, and are not limited to, the following:
Divorce
Although most people understand this term, it is one of the most important. A divorce is the legal termination of a marriage. By filing for divorce, you are looking to end your marriage with your spouse and become legally single.
Marital Property
One of the most contested issues of a divorce is property division. In this step, any property that was obtained throughout the marriage, generally personal property, real property, or financial assets, is separated between the spouses. These types of property are known as marital property because they were obtained during the marriage.
Separate Property
On the other hand, some property does not get separated during a divorce. This refers to property obtained outside the time of the marriage as well as anything inherited or gifted specifically to one partner. This is understood as separate property.
Alimony/Spousal Support
In the event that a court finds that one spouse needs financial support in order for them to be able to provide for themselves and keep a standard of living after the divorce is completed. The payment is referred to as alimony or spousal support. The amount of money paid to a dependent spouse relies on the specific circumstances of each situation.
Child Support
Parents are responsible for caring for their children, even after their marriage has ended. In the event that children are involved in a divorce, one party may be accountable for supplying the other spouse with financial payments in order for that spouse to provide for the child’s needs. The payment is understood as child support; like alimony, how much child support is paid relies on the specific situation of the family.
Child Custody
When it comes to child support, both parents will have to decide who has the right to live with the child as well as the right to make decisions regarding the child’s medical care, education, religion, and similar topics. These work together to form child custody. Child custody can be split into legal custody (decision-making) and physical custody (residence) and will be specified in divorces that concern children.
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At Townsend, Tomaio & Newmark, LLC, our seasoned divorce and family law attorneys ensure that through the process of resolving your family matter, you feel empowered, not overwhelmed. Providing unwavering support, undivided attention, and unflinching advocacy, our team invests in your cause, working tirelessly to pave your path toward a brighter tomorrow. If you need an experienced legal team to guide you through your divorce, contact Townsend, Tomaio & Newmark L.L.C today.
