When getting divorced, one of the things that many people in New Jersey can find difficult to accept is the fact that they may have to split their 401K assets with their to-be former spouse. Especially for people who have saved for decades and for whom retirement may be near, this can feel like a major financial setback. While splitting the retirement funds may be unavoidable, there is one thing that can help them to avoid additional losses. That is the use of a qualified domestic relations order.
As you prepare for your divorce proceedings in Matawan, many may be telling you (if you were not the primary wage-earner in your marriage), that you should expect to receive alimony payments from your soon-to-be ex-spouse for an indefinite period of time. Many that our team here at Robin Jill Schneider have worked with come to us with this expectation. Like them, you might be disappointed to learn that is not always the case (in fact, an award of alimony should not even be assumed to be a given in a divorce case).
With the growth of the fathers’ rights movement over the last several decades, public perceptions in New Jersey and throughout the U.S. are changing in regards to fathers and co-parenting after divorce. These changes are reflected more and more in family law courts as families and legislators realize that many fathers want to remain in their children’s lives and help them grow and develop into healthy adults.