Providing FAQs On Divorce
Couples going through a divorce often are entering uncharted territory. They may have many questions about what to do and how to deal with the changes. Who can provide them with answers and legal guidance? Germaine & Blaszka, P.A., of Derry, New Hampshire, has a keen understanding of family law. Our experienced attorneys are understanding and empathetic and will advocate for you. Here are some of the more frequently asked questions about divorce.
Q: What is considered marital property in New Hampshire?
A: Marital property is property and assets a couple accumulated while they were married. This may include assets from stocks, bonds and money market accounts; savings from bank accounts and certificates of deposit; pensions; retirement benefits; residential homes and investment property; personal property; and a family-owned business.
Q: Do spouses automatically get half of any business in a divorce?
A: Not necessarily. There is no simple answer to this. The answer is yes in situations in which the spouses were business partners when the company was launched. As co-owners, it’s a typical 50-50 split since the business is considered marital property. It also may hold true if one of the spouses started or acquired the business during their marriage. Once again, the business is considered marital property and gets equal distribution between divorcing parties.
If ownership interest in the business took place before the couple married or the business was purchased with separate funds, the business would be considered separate and not subject to equal division. But there is an asterisk with the former. Just because the business was purchased or started before the marriage doesn’t signify that the nonowner spouse does not get any money from it. If the value of the business rose a specific amount during the marriage, the increase in value may be subject to equal distribution.
Q: How is spousal support determined?
A: In determining spousal support, the judge will consider many details. They include:
- Length of the marriage
- The income of each spouse
- The standard of living achieved by the couple during the marriage
- The investments and finances each person brought to the marriage
- The necessities of each spouse connected with their financial ability, age and health
- The investment and time required for the support recipient to conclude training and education to become financially independent
Q: How is child support determined?
A: In New Hampshire as in many other states, both parents are responsible for financially supporting their children. In determining child support payments, courts review several factors. They include the income of each parent, the parenting schedule and the needs of the child. The parent who earns more money will pay more toward child support. Noncustodial parents also will pay more in child support.
Our attorneys will answer your questions, provide you with legal options and represent you. We consider our clients our top priority.
Schedule A Free Consultation
Many people have questions about how to deal with an impending divorce. Germaine & Blaszka, P.A., of Derry, New Hampshire, will provide you with answers and advocate for you. For a free initial consultation, contact us online or call 603-434-4125.