April 15th has been tax day since 1955 and for almost as many decades, divorced couples with alimony obligations have had the same tax situation – those paying could deduct payments dollar for dollar and those collecting would claim it as income. But for the first time ever, those rules have changed this tax season,Read more
Earlier today, Amazon Founder, Jeff Bezos, and his Wife, MacKenzie, issued a joint statement of their intent to divorce each other after 25 years of marriage. The most recent estimate is that Bezos’ net worth is somewhere around $137 billion dollars, give or take a few billion depending on the market. The million (well billion)Read more
HADDONFIELD, NJ – Robert Adinolfi, Esq. is pleased to announce that effective immediately South Jersey’s award-winning law firm will now be known as Adinolfi, Molotsky, Burick & Falkenstein, P.A. Mr. Adinolfi is proud to elevate Drew Molotsky, Julie Burick and Kevin Falkenstein to shareholders status and to add their names to the firm’s practice. Mr.Read more
Buying your first home is a monumental time in a young couple/ young adult’s life and is typically met with excitement about the future as well as the feeling of accomplishment. Especially in today’s society many young adults are buying a home prior to getting married or even prior to getting engaged which poses theRead more
The National Defense Authorization Act of 2016 radically changed the retirement system for military service members. It created the new Blended Retirement System (“BRS”) which became effective January 1, 2018. This new system has created some very unique issues for previously divorced military couples and those who are contemplating a military divorce in the future.Read more
Not exactly, but that is how a lot of people feel when it comes to property distribution (equitable distribution) in divorces. We often hear “But that’s MY pension, I earned it! Why do I have to share it with my spouse?” Fill in any word after “my” and you get the idea (house, car, bankRead more
In certain divorce cases in New Jersey, the payment of and receipt of alimony may be an issue. Alimony or spousal support is basically support that is paid from one spouse to the other. The entitlement to support from your spouse is “ gender neutral”, that is, either party, husband or wife may be facedRead more
WHAT IS THE IMPACT OF RETIREMENT ON ONE’S ALIMONY ENTITLEMENT / OBLIGATION ? One of the more common questions we get from our clients has to do with the impact of retirement on the issue of alimony.Read more
Unless we are independently wealthy, the majority of us work for a living and work for a long time in hopes of one day retiring. Retirement used to be more common than it now is as people continue to work later into life without retiring, if only because they cannot afford to retire. We oftenRead more
I Plan on Retiring Early, But I Pay Alimony – What Should I Do? There is a second section to N.J.S.A. 2A: 34-23(j), New Jersey’s alimony statute, which addresses when someone may retire prior to reaching full retirement age. This section provides that when a obligor seeks to retire prior to reaching full retirement ageRead more
