Divorce & Separation
In the beginning stages of a divorce, it can be emotionally taxing thinking of all the possible factors that must be addressed: child custody, alimony, and dividing assets fairly. Even “friendly” divorces often include unforeseen surprises along the way. That is why it’s important to have an attorney who is 100% on your side, working for your benefit all along the way. If you find yourself facing a breakup of your marriage, put yourself in the good hands of the legal team at Boyle & Valenti.
Bed & Board vs. Absolute
New Jersey couples have a unique set of options when considering separation or divorce. The state does not have a formal process for a legal separation. “Bed and Board” divorce is for those who are not sure they are ready for a final divorce. While this is a binding agreement, these types of divorces still allow you to remain technically married, but economically separated. A number of different issues can be addressed in a bad and board agreement, including assets and property, child support and custody, spousal support and insurance. Since neither spouse can remarry until the divorce is fully finalized, this type of limited divorce functions like a legal separation.
In Pennsylvania, many couples file for a “no-fault divorce” or a “mutual consent divorce.” A no-contest divorce typically takes three or four months, a much faster process than traditional divorce. However, if at any point, one party no longer agrees to any issue, the process becomes a traditional divorce which takes two years to finalize.
Chapter 11 bankruptcy is designed to allow struggling businesses to restructure their finances and maximize the return to their creditors and owners. Businesses, with the aid of their attorneys, come up with a plan on how to continue operating while paying back debts. This can help a viable business keep the doors open long enough to regroup and reimagine a future-forward strategy. It doesn’t matter whether the company is avoiding paying vendors, having a tough time meeting payroll or rent, or struggling with some other obligation that’s come due, the debt relief afforded by Chapter 11 gets businesses back on track. Filing for Chapter 11 stops all creditors from demanding payment, evictions or foreclosures, property seizures or other collection processes. The goal is to create a financial plan that the filer, creditors, and the court agree will enable the company to remain open and prosper. The plan can include modifying interest, payment due dates, and other terms—it can even discharge (erase) debt entirely. Most plans provide for at least some downsizing of the debtor’s operations to reduce expenses and free up assets.
Alimony is the court-ordered payment to your spouse after the dissolution of marriage. Those who pay alimony have made more money or were the primary breadwinner of the family. Each state has a different set of guidelines for alimony and requesting alimony, so hiring an experienced legal team to help you get the results you desire is imperative.
Receiving alimony payments in New Jersey is dependent on over 14 statutory factors. Some of these include the length of the marriage, earning capabilities, parental responsibilities, age, and physical or emotional health of the parties involved.
In Pennsylvania, many of those same factors apply when calculating how much the applying spouse might need. However, judges have broad discretion when deciding the final term of post-divorce spousal support.
Alimony pendente lite is available in both New Jersey and Pennsylvania to spouses between the time of the filing and the finalizing of the divorce. That way, the dependent spouse can maintain living expenses during the divorce proceedings.