Are you going through the divorce process and have questions about premarital assets? Read these 4 premarital property tips, then call us.
1. What Happens to Your Premarital Assets During Divorce
- An important factor in determining how your premarital assets are handled during a divorce is whether those assets were kept separate from marital assets.
2. Fate of Your Marital Home
- Many factors can impact the fate of the marital home during a divorce.
- The outcome depends on the parties’ finances and fact-based questions such as: Can one spouse buy the other out? Can the spouse who wants to keep the home get the mortgage refinanced and maintain the payments?
3. What Happens to the Things in Your House
- What happens to the contents of the marital home after the divorce is finalized is often a difficult discussion. There’s no right or wrong answer and no cookie cutter response.
4. What to Do if You Purchased a Home Together Prior to Marriage
- Today, two spouses often purchase a home together before they marry. Parties who live together for a long period of time may save their money and buy a home prior to marriage.
- Difficulties arise when the parties’ funding of the down payment for a premarital asset is unequal – or when one spouse funds the premarital asset completely.
- A number of fact-sensitive issues must be discussed with your divorce attorney to determine an equitable distribution of this asset.
Did you make a purchase with your spouse prior to marriage and now going through divorce? If you have questions after reading these 4 premarital property tips, contact a New Jersey Divorce Lawyer Tanya L. Freeman to help guide you
Subscribe to our YouTube Channel