Durkin & Durkin, LLCFindLaw IM Template2026-05-28T14:49:47Zhttps://www.durkinlawfirm.com/feed/atom/WordPress/wp-content/uploads/sites/1400499/2020/11/cropped-favicon-durkin-and-durkin-32x32.jpgOn Behalf of Durkin & Durkin, LLC<![CDATA[What assets can you keep after a divorce?]]>https://www.durkinlawfirm.com/?p=479362026-05-28T14:49:47Z2026-05-28T14:49:47ZSome properties may stay outside the property division
Asset division does not always mean each spouse receives half of every asset. In New Jersey, courts use equitable distribution. Judges divide marital property based on fairness after reviewing the facts of the marriage. Certain assets usually stay with the spouse who owned or received them. These may include:
Pre-marital property: A home, vehicle or investment account you owned before the wedding may remain separate property. If marital funds paid the mortgage or increased the value, the added value could become part of the divorce discussion.
Individual gifts: This may include jewelry, heirlooms or money given to one spouse alone. If you kept records showing it was not meant for both spouses, these details could help support your position.
Inherited assets: Money or family property received from a relative often remains separate from marital assets. You will generally have a stronger argument for keeping them separate if you did not place the funds into joint accounts or use them for shared expenses.
Protected agreement assets: These are properties listed in a valid prenuptial or postnuptial agreement. Courts will review your agreement during property division.
Certain injury compensation: This may include part of your personal injury settlement tied to pain and suffering. Payments for lost wages or medical bills may require closer review.
These details often matter more when high-value property or retirement savings are involved. Courts frequently review how spouses managed the property during the marriage before deciding if it remained separate.
Building a more secure financial future
Property decisions can affect life long after the divorce becomes final. Your retirement accounts, real estate and investment assets may influence future financial stability. Understanding how courts classify marital property could help you protect your rights during settlement talks or court proceedings.
It can also help you see why clear financial records matter when disputes arise over ownership or asset value. Account statements and property records may support your position during negotiations. An attorney can help you evaluate settlement terms and prepare for discussions involving valuable property.]]>On Behalf of Durkin & Durkin, LLC<![CDATA[5 life events that warrant an estate plan review in New Jersey]]>https://www.durkinlawfirm.com/?p=479002026-02-25T10:18:40Z2026-02-25T10:18:40ZGetting married or divorced
Your marital status directly affects how New Jersey law treats your estate. When you divorce, state law automatically revokes any provisions in your will that benefit your ex-spouse.
This protection, however, does not extend to beneficiary designations on life insurance policies, retirement accounts or trusts. Your former spouse could still inherit these assets unless you update the documents directly.
A new marriage requires equal attention. You will need to decide how to provide for your new spouse while potentially protecting assets for children from a previous relationship. These competing interests require careful planning to avoid future disputes.
Welcoming a child through birth or adoption
A new addition to your family creates immediate planning priorities. You need to name guardians whom you trust to raise your children if you and your spouse both pass away. Without this designation, a New Jersey court will decide who takes on this responsibility—and that choice might not match your preferences.
Creating or updating trusts for minors is also essential. Direct inheritances to anyone under 18 require court-appointed guardianship, which adds expense and unnecessary oversight. A properly structured trust helps avoid these complications while giving you control over how and when beneficiaries receive their inheritance.
Experiencing major financial changes
Notable changes in your assets warrant a fresh look at your plan. Consider these scenarios:
Receiving a large inheritance or settlement
Selling your business or investment property
Substantial increases in retirement account balances
Acquiring valuable assets, such as real estate or collectibles
Taking on significant business or personal debt
These changes can affect estate tax planning, beneficiary distributions and your overall strategy. An outdated plan might distribute assets unequally or fail to minimize tax liability.
Moving to or within New Jersey
Relocating is a change of legal jurisdiction. If you moved to New Jersey from another state, your existing documents may not comply with local statutes. New Jersey has specific requirements for "self-proving" wills and the execution of powers of attorney.
Even moving within the state can impact your plan. Local property taxes and the manner in which you title your new home could affect your overall estate value.
Losing a named individual to death or incapacity
The people you selected to manage your estate might no longer be available or appropriate. Executors, trustees, guardians and agents can pass away, develop serious health issues or relocate far away.
Every role in your estate plan needs both primary and alternate appointments. If all your named individuals become unavailable, a New Jersey court will make the selection for you.
Such court-appointed fiduciaries often cause delays in estate administration and increased costs. There is also no guarantee the appointed individual will align with your values or understand your family.
Make time for regular reviews
Life changes quickly, and your estate plan should keep pace. Regardless of whether you have experienced any of these major life events, reviewing your documents every three to five years can help catch issues before they become problems. Consistency is the key to a successful legacy.]]>On Behalf of Durkin & Durkin, LLC<![CDATA[Can child support help cover a student’s college costs?]]>https://www.durkinlawfirm.com/?p=478972025-11-29T23:36:18Z2025-11-29T23:36:18ZSupport can continue through college
New Jersey has more child-friendly rules regarding child support than many other states. The courts can extend a support order through a child's college years if they enroll full-time. The recipient parent typically needs to petition the courts and present documentation showing that the student intends to continue their education at an accredited institution.
Provided that the student remains enrolled, child support payments may continue until they reach their 23rd birthday. At that point, even if they remain enrolled full-time, the payments are likely to stop.
Child support falls short of covering all college costs
Parents often shoulder tens of thousands of dollars in annual expenses for their college students. Child support alone is unlikely to make a significant impact on those obligations.
It may be better for parents to address upcoming college costs and commit to an arrangement where they share the total expenses with one another. Private arrangements integrated into a divorce settlement can do more to help offset the expenses of a college education than basic child support payments.
Those concerned about ensuring that their children still have the support and opportunities they deserve may need assistance as they prepare for divorce, and that’s okay. Learning about New Jersey's unique child support rules can be beneficial for those hoping to send their kids to college despite a pending divorce.]]>On Behalf of Durkin & Durkin, LLC<![CDATA[Parallel parenting can work in high-conflict coparenting situations]]>https://www.durkinlawfirm.com/?p=478912025-09-10T02:11:19Z2025-09-10T02:11:19ZWhen parents separate, the expected scenario is a cooperative co-parenting relationship wherein communication is open and decisions are made together for the child’s benefit. However, in many families, conflict between parents makes this level of cooperation unrealistic. When this happens, parents should not feel pressured to live up to an idealized approach that doesn’t serve anyone’s interests practically.
Constant arguments or unresolved hostility can expose children to stress and instability. In these situations, parallel parenting can offer a workable alternative to co-parenting. Instead of requiring frequent communication and joint decision-making, parallel parenting allows each parent to care for their child (mostly) independently during their parenting time while minimizing direct interaction with their child’s other parent.
How parallel parenting works
Parallel parenting is an arrangement that is structured to reduce conflict. Parenting plans in these cases are often detailed and specific, spelling out parenting time schedules, drop-off arrangements and decision-making responsibilities in advance. The goal is to limit opportunities for disputes by clearly outlining expectations. Communication between parents is typically kept to a minimum and may occur only through written formats such as emails or co-parenting apps. This can help to keep exchanges businesslike and avoid emotionally charged confrontations that can harm children.This model also allows children to maintain strong relationships with both parents without being caught in the middle of ongoing conflict. They can enjoy time with each parent in a relatively stable environment, even if their parents cannot cooperate directly. For many children, having consistency in each household and being shielded from parental disputes is healthier than witnessing constant arguments about schedules or parenting decisions.While parallel parenting reduces direct collaboration, it still requires both parents to prioritize their child’s best interests. Courts may encourage or order this arrangement in high-conflict cases where attempts at traditional co-parenting have failed. Over time, if tensions lessen, parents may transition to a more cooperative co-parenting style. However, for some families, crafting and maintaining clear boundaries and limited contact remains the best long-term approach possible under the circumstances. ]]>On Behalf of Durkin & Durkin, LLC<![CDATA[Five essential estate planning steps after divorce]]>https://www.durkinlawfirm.com/?p=478882025-06-10T19:23:07Z2025-06-10T19:23:07ZCreate a new will
The first step in updating your estate plan is to create a new will. If your ex-spouse is named as a beneficiary in your existing will, they may no longer inherit under certain state laws. To avoid any confusion, draft a new will that clearly states your intentions. Choose beneficiaries who reflect your current relationships and priorities.
Revise guardianship and directives
If you have minor children, revising guardianship is crucial. You need to appoint a guardian who will care for your children if something happens to you. While your ex-spouse will retain custody, it is important to have a backup plan. Additionally, change the agents named in your power of attorney and health care directives. You may have previously designated your spouse to make financial or medical decisions. Now, select trusted individuals who will act in your best interest.
Update beneficiary designations
Beneficiary designations on accounts and policies often bypass your will. Review all accounts, including bank accounts, investment portfolios, retirement plans, and life insurance policies. Ensure these designations reflect your current wishes. Contact your financial institutions and request forms to change beneficiaries. This step prevents unintended inheritance by your ex-spouse and secures your assets for those you choose.
Consult with family members
Your family members might have included your former spouse in their estate plans. Encourage them to review their documents and make necessary changes. They should ensure that no unwanted individuals remain as fiduciaries or beneficiaries.
Simplify your estate planning updates
Updating your estate plan does not have to be difficult. You can consult an estate planning attorney for personalized guidance. If you plan to remarry, discuss your estate plan with a family law attorney to determine if a prenuptial agreement is beneficial.
While divorce is challenging, updating your estate plan can be straightforward. Take these steps to secure your financial future and ensure your wishes are honored. By addressing these important changes, you can embrace your new beginning with confidence.]]>On Behalf of Durkin & Durkin, LLC<![CDATA[How does divorce affect your credit?]]>https://www.durkinlawfirm.com/?p=478852025-03-19T17:51:03Z2025-03-19T17:51:03ZDivorce can change many aspects of your life, including your finances. If you're facing a divorce, it’s important to understand how the process can impact your credit and what steps to take. This blog will explain how divorce affects your credit and how to manage it.
Divorce and shared debt
Many couples share joint debts like credit card balances, mortgages, or car loans. Once you separate, those debts still exist. Your name may remain on accounts even after the divorce. If your ex-spouse misses a payment or struggles with their credit, it could affect yours.To protect yourself, check all shared accounts and make sure they’re closed or transferred into individual names. Monitor your credit reports regularly to spot potential issues.
Spousal support and alimony
If you’re paying or receiving spousal support, it can affect your credit. If you struggle to keep up with alimony payments, your credit score could drop. On the other hand, receiving support might help maintain financial stability and protect your credit.Stay on top of any required payments to avoid missing them.
Updating your financial information
After your divorce, update your financial information. Close joint accounts, open individual accounts, and adjust beneficiaries or names on financial documents. Update your bank, credit card companies, and lenders about your new status to avoid confusion.
Impact on credit scores
Divorce itself doesn’t directly affect your credit score, but the financial changes that come with it can. If you're facing financial challenges, such as paying off shared debt or maintaining alimony payments, your credit score may drop. However, with careful financial management, you can minimize the impact.Divorce can be tough, but understanding its impact on your credit helps you take control of your financial future.With proactive management, staying organized, and being mindful of your debt, you can set yourself up for a healthier financial situation post-divorce.]]>On Behalf of Durkin & Durkin, LLC<![CDATA[5 types of powers of attorney for your estate plan]]>https://www.durkinlawfirm.com/?p=478832024-12-19T17:04:58Z2024-12-19T17:04:55ZPlanning for the future involves preparing for unexpected situations. A power of attorney (POA) is a valuable tool for managing your affairs if you become unable to do so yourself. In New Jersey, there are several types of POAs, each serving a unique purpose. Understanding the differences can help you choose the one that fits your needs.
1. General power of attorney
A general power of attorney grants broad authority to someone you trust. This person can manage your finances, make decisions about your property, and handle other responsibilities on your behalf. It is often used when someone needs temporary assistance, such as during extended travel or medical recovery.
2. Durable power of attorney
A durable power of attorney remains effective even if you become incapacitated. This type is crucial for long-term planning because it ensures someone you trust can continue managing your affairs without interruption. It often includes financial and legal matters.
3. Limited power of attorney
A limited power of attorney gives authority for specific tasks or decisions. For example, you might use it to allow someone to sell property or handle a single financial transaction. Once the task is complete, the POA automatically expires.
4. Healthcare power of attorney
A healthcare power of attorney focuses on medical decisions. It lets you appoint someone to make healthcare choices if you cannot communicate your wishes. This type often works alongside a living will to outline your preferences for medical treatment.
5. Springing power of attorney
A springing power of attorney becomes effective only under certain conditions, such as a doctor declaring you incapacitated. This type provides flexibility by activating only when you truly need it.Understanding these different types of POAs can help you prepare for various life scenarios. Choosing the right one ensures your wishes are carried out and your affairs are managed smoothly, even during challenging times. Take the time to evaluate your situation and make informed decisions about your estate plan.]]>On Behalf of Durkin & Durkin, LLC<![CDATA[What does equitable distribution mean in a New Jersey divorce?]]>https://www.durkinlawfirm.com/?p=478512024-09-10T16:04:32Z2024-09-10T16:04:32ZIn a New Jersey divorce, equitable distribution refers to the fair division of marital property between spouses. New Jersey follows this principle instead of simply splitting everything 50-50.
The goal is to divide assets and debts in a way that is fair, though not necessarily equal.
Defining marital property
The first step in equitable distribution is identifying what counts as marital property. Marital property includes all assets and debts acquired during the marriage, regardless of which spouse's name is on the title or account. Some examples include homes, vehicles, bank accounts, retirement funds and even debts like credit cards or loans. However, property acquired before the marriage or through inheritance or gifts usually remains separate and is not subject to division.
Determining how to divide property
The court considers several factors to determine how to fairly divide marital property. These factors include the length of the marriage, each spouse's income and their contributions to the marriage. The court may also look at each spouse's age, health and the value of the property up for division.
Understanding the difference between "equitable" and "equal"
It is important to note that equitable distribution does not necessarily mean equal distribution. One spouse may receive a larger share of the assets if the court determines it is fair based on the circumstances. For example, if one spouse earned significantly more during the marriage or will have greater financial resources after the divorce, the other spouse may receive a larger portion of the marital assets.Equitable distribution aims to provide a fair solution for both spouses while considering the unique situation surrounding the marriage. By doing so, New Jersey courts strive to ensure that neither party is at a disadvantage as they move forward after the divorce.]]>On Behalf of Durkin & Durkin, LLC<![CDATA[The emotional impact of divorce on children]]>https://www.durkinlawfirm.com/?p=478472024-06-18T20:05:13Z2024-06-18T20:05:13ZDivorce can be an overwhelming experience for all family members, especially children. Understanding how these changes impact kids will help families deal with this challenging time with insight and compassion.
Emotional responses in the early stages
Children may react with different emotions during and after a divorce. They can feel confusion, anxiety, sadness, and rage. Younger children might be unable to understand why their parents split up. In some cases, they may blame themselves. Teenagers might express their sadness through defiant or distant behaviors. Recognizing these feelings early on might help caregivers offer the right support.
Long-term psychological impact
Divorce's initial shock might give way to a variety of long-term psychological impacts. Some youngsters may develop anxiety, depression, or issues with trust and relationships. But, supportive parenting and professional coaching can reduce these impacts. It is critical for parents to keep open communication and reassure their children about their love and stability.
Adapting to new family dynamics
Restructuring family dynamics post-divorce can also have a significant impact on children. The change includes adapting to living in two households and daily routine changes. Eventually, it could potentially mean having new family members. Families can help this transition by establishing consistent routines and ensuring that both parents stay involved in the child's life. Doing so gives a sense of security and continuity.
Reflections on change and growth
Change, especially when difficult, offers possibilities for growth and resilience. For children, dealing with the changes that divorce brings can lead to stronger personal growth. It can also give them a deeper grasp of complex emotional situations. Families should note that, with the correct care and communication, children can come out of this experience stronger and more resilient.]]>On Behalf of Durkin & Durkin, LLC<![CDATA[How does general probate work in New Jersey?]]>https://www.durkinlawfirm.com/?p=478312024-03-22T21:36:31Z2024-03-22T21:36:31ZProbate in New Jersey
In New Jersey, general probate is a legal process for managing the estate of a deceased individual. Going through probate can be complex, but it is important for the estate's distribution. It provides fair treatment for creditors and beneficiaries based on the law and the deceased's wishes. General probate also ensures the public recording of assets, which adds a layer of transparency and prevents fraud.
Starting the process
The general probate process starts with finding your deceased loved one's will and filing a petition with the county surrogate court. Typically, the will names an executor and states how to distribute the assets. If there is no will or the document does not specify the executor, the court can appoint an appropriate administrator.
Once appointed, the executor or administrator has the legal power to act for the estate. They manage the estate's assets, pay off debts and ensure the distribution of assets as the will or state laws dictate.
Managing the estate
If you are the estate's administrator or executor, you play a key role in managing your loved one's property throughout the probate process. Your duties include contacting beneficiaries, paying the estate's taxes and distributing the remaining assets. You must also keep accurate records and act in the estate's best interests.
Probate is not necessary in all cases. Some assets, like life insurance policies, are jointly owned or have designated beneficiaries. You can transfer these without going through probate. Also, New Jersey offers simpler procedures for some smaller estates.
Closing the estate
After paying the estate's debts and giving out the assets, you should file a final accounting with the court. This accounting details all actions taken in managing the estate. Once the court approves this accounting, you can officially close the estate and conclude your duties as executor.
Although going through general probate can seem daunting and time-consuming, it allows you to fairly and legally administer your loved one's estate.]]>