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Super Lawyers Logo — top rated divorce lawyersA leading real estate property tax attorney in the New York metropolitan area, David B. Wolfe has once again been named a New Jersey Super Lawyer. Super Lawyers rates outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement. The selection process includes independent research, peer nominations and peer evaluations.

“I’m pleased to be chosen once again as a New Jersey Super Lawyer, but I’m especially proud of the other lawyers in our firm who have also been cited,” Wolfe said. Skoloff & Wolfe announced nine lawyers practicing in matrimonial and family law who were selected either as Super Lawyers or as Rising Stars in 2020.

Seven Super Lawyers and Two Rising Stars Shine for Skoloff & Wolfe

How to find the best divorce attorney in NJDivorce is a major life event that can be very stressful. Therefore, it is not surprising that selecting a divorce attorney can often be a daunting process. Given the personal nature of this extremely important decision, it is critical that you choose someone with whom you feel comfortable because good communication with your attorney is essential to successfully navigating your divorce.

Before choosing an attorney, you should research the prospective matrimonial attorneys based on referrals, reputation, location or any other considerations that are important to you. Once you have selected one or more lawyers to interview, you should obtain copies of your recent tax returns if you have access to them, and you should also compile a list of assets and liabilities to the extent you have this information. This will allow the attorney to give you a preliminary opinion about the possible outcome or outcomes of your case in your initial consultation, in addition to giving you a general overview of the divorce process.

Below are general questions to help you in your selection of an attorney to best accomplish the goals for your case. They fall into three major categories: experience, practice style and cost.

Acceptable Grounds for Divorce in New Jersey
If you are a resident of New Jersey and contemplating a divorce, among the things you may want to understand is what you will have to tell a court in order to allow you to dissolve your marriage.

First, it is a generally a requirement that either you or your spouse must live here for more twelve months before you file a complaint.

Next, and perhaps most importantly, you have the option to file a complaint for divorce without escalating your conflict by having to point your finger at your spouse and make claims about what may have happened which contributed to the failure of your partnership.

Couple Discussing Retirement Assets for Divorce — Skoloff Wolfe lawyers attorneys
Retirement funds are often among the most valuable assets a divorcing couple owns, although before retirement they are often not given a whole lot of thought. How they are treated is one of the most important considerations to be dealt with in a divorce case, and in order to do that, the rules of the road need to be understood by both attorney and client. How such funds are distributed may be one of the most consequential decisions to be made in the divorce process, and there is a lot to know.

Understand the Different Types of Retirement Accounts that are Considered in a Divorce

In order to know what to do with retirement assets, it is important to first understand what it is that you, or your spouse, own. Basically, there are two styles of retirement plan: the defined benefit plan, which guarantees the owner an income stream in a predetermined amount each month, starting from a fixed age through the end of the pensioner’s life; and the defined contribution plan, which has a fixed value at any given point in time, just like a bank or brokerage account. Defined contribution plans are usually in one of two forms: the 401(k) account, which is funded by withholdings from an employee’s paycheck and contributions from his or her employer; and the Individual Retirement Account (“IRA”), which is either funded with a worker’s savings, “rolled over” from a 401(k) with a prior employer, or both. There may be multiple accounts if the person has had multiple employers. A person going through a divorce needs to be certain to know how many accounts they and their spouse have, and what kinds of accounts they are.

A couple who owns a family business together going through a divorce
A family business is typically a closely held corporation—a business which is not publicly traded and for which there is no open market. Where the interest was purchased during the marriage, its value will be subject to division in the divorce. The major question which presents itself, however, is how will the value be determined.

Determining Fair Value of a Business During a Divorce

Brown v. Brown, 348 N.J. Super. 466 (App. Div. 2002) determined that the governing standard of value to be applied is “fair value,” and not “fair market value.” Fair market value is the amount at which property would change hands between a willing seller and a willing buyer when neither is acting under compulsion and when both have reasonable knowledge of the relevant facts. Fair market value takes into consideration a discount for lack of marketability or liquidity which is a discount based on the inability to sell an ownership interest in a business. Fair market value also takes into consideration a minority interest discount which is a reduction in value due to the lack of control which can be exercised by an owner with only a minority interest.

Super Lawyers Logo — top rated divorce lawyersNew Jersey Super Lawyers has recognized nine Skoloff & Wolfe lawyers as Super Lawyers and Rising Stars for 2020. Super Lawyers rates outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement. The selection process includes independent research, peer nominations and peer evaluations.

Jonathan Wolfe, Co-Managing Partner; Chair – Matrimonial & Litigation Departments

For the tenth consecutive year, Jonathan Wolfe, has been selected as a “Super Lawyer”. Mr. Wolfe’s practice focus is on business litigation and matrimonial disputes. He represents leaders or the spouses of leaders from the finance, real estate, professional and entertainment/sports communities in complex matrimonial matters, including a focus on business valuations, private equity/hedge funds, treatment of trust assets in divorce and the protection of non-marital assets. Mr. Wolfe is also the Chair of the Family Law Section of the American Bar Association.

By Richard F. Iglar, Esq.

Alimony COVID-19
The COVID-19 coronavirus pandemic has plunged our world into a once in a lifetime crisis–we have not seen anything like this in the United States since the Spanish Flu pandemic of 1918. Many aspects of our society have ground to a virtual halt, and our economy has been decimated. Restaurants, hotels, airlines, manufacturers, small businesses and large businesses alike, are shuttered and at risk of going out of business. Fear of the loss of employment and income is pervasive. How will this pandemic impact one particular family law issue, the issue of the payment of alimony? The divorced individual paying alimony asks, “How can I possibly be expected to pay now?”

Understanding Alimony in NJ & COVID-19

We are closely tracking the rapidly evolving public health and community concerns related to the new coronavirus or COVID-19. Rest assured that our entire team is fully engaged and remains accessible to our clients as we continue to act in accordance with their best interests during this difficult time.

Please see below for answers to some frequently asked questions, and feel free to reach out to us any time via our contact page or by calling 973-992-0900 for assistance with your legal matter.

Is your office currently open during normal business hours?

By: Thomas DeCataldo

Divorced parents COVID-19
The ongoing Covid-19 pandemic has caused the tragic loss of life and spurred international panic. Adding insult to injury, the economic impact of this health crisis has thus far been devastating, with stock markets collapsing and many struggling to keep businesses afloat while being unable to work or attempting to do so remotely. As a result of the tumult caused by this virus, divorcing couples and separated parents find themselves attempting to cope with several accelerants to an already stressful situation.

Against this backdrop, in recent weeks many parents questioned the impact of the Covid-19 pandemic on custody and parenting time arrangements, whether entered formally as Court Orders or informally by agreement of the parties. The pandemic presents many hotbed areas for disagreement among separated or separating parents, particularly for those in high-conflict situations.

nj-tax-appeal-deadline-extended-300x300

We are pleased to announce the Supreme Court of New Jersey has granted an extension of the property tax appeal deadline in New Jersey. The Chief Justice has issued an Order extending the deadline from April 1, 2020 to at least May 1, 2020.  

The New Jersey State Bar Association (NJSBA) worked diligently with stakeholders to ensure that taxpayers are not prejudiced in light of the current turmoil surrounding COVID-19.  As the Immediate Past Chair of the NJSBA Taxation Law Section, and its Liaison to the NJSBA Board of Trustees, David Wolfe, Skoloff & Wolfe managing partner, played a pivotal role in advocating for the extension on behalf of property owners, taxpayers, and practitioners. 

According to a letter issued by the Taxation Section, the extension of these filing deadlines will address critical due process concerns for taxpayers and taxing districts across the State of New Jersey who are facing barriers to access law firms, businesses, and the courts in response to the COVID-19 pandemic.

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