Full Mobile Version of Equitable Mediation Services Website Now Available
October 24, 2011 by Joseph F Dillon · Comments Off
Did you know that 10% of the visitors to the Equitable Mediation Services website are using mobile devices? In order to make it even easier on our visitors, we have developed a true mobile version of our website that works seamlessly with your Android, iPhone or Blackberry device. Simply visit our regular website at www.equitablemediation.com and you’ll be automatically redirected. Or if you’re one of those folks who are smart enough to access it direct, please visit www.equitablemediation.mobi. As always, we welcome your feedback and would love to know what you think. Please call us at (908) 864-2177 with comments or questions.
Equitable Distribution and the Stock Market
October 4, 2011 by Joseph F Dillon · Comments Off
It would be an understatement to say the economy and the stock market has had its ups and downs lately. With housing prices in the tank and the value of everyone’s 401(k) much lower than it was a few years ago, it’s no surprise that the topic of equitable distribution and the stock market has been a major issue in divorce mediation lately. When account balances change month to month and what looked like an amicable agreement a few weeks ago now has been turned upside down, how do you fairly and equitably divide your marital assets and liabilities when it seems every day you turn on the television, there is a new story about where our economy is headed? The answer? You go to divorce mediation in New Jersey.
It’s no secret that divorce mediation is a much more efficient and much less expensive process as opposed to a lawyer-driven collaborative divorce or litigated divorce as the parties are doing much of the work themselves saving tens if not hundreds of thousands of dollars in the process (sad but true). But part of the reason divorce mediation in New Jersey also costs much less is that it is an efficient divorce. With the help of your NJ divorce mediator, you and your spouse will move through all of the equitable distribution issues surrounding your divorce in an efficient and organized fashion allowing you both to make better decisions in less time than if you involved attorneys. By moving through your mediation in as little as two sessions for couples without children and four session for couples with children, how much the market is up or down will impact you much less than if it took two to three years like an attorney driven divorce does.  I’m not saying the market will be perfectly stable for a month long period but imagine if you had to wait two to three years to settle. I’m guessing there is a much better chance the market will have gone up or down in two to three years as opposed to one to two months. Account values change and “go stale” so I remind my clients that while I’m not here to rush you through the process, I am here to remind you that in order to remain efficient and not have to revisit equitable distribution decisions a year down the road, it’s in everyone’s best interest to make things move forward as smoothly as possible and divorce mediation is just the way to do that.
If you or your spouse has any questions about equitable distribution or how divorce mediation can benefit you, please call the offices of Joseph Dillon at (908) 864-2177 and we’d be happy to schedule an appointment for you and your spouse to come in for an initial meeting in one of our many convenient New Jersey office locations. Or if you’re not ready yet, please feel free to visit the Equitable Mediation Services website where you’ll find lots of great information about equitable distribution, divorce mediation and more.
Dividing Up Debt in Divorce Mediation
August 10, 2011 by Joseph F Dillon · Comments Off
Unfortunately the days of selling the marital home as the result of a divorce and getting a lump sum of cash to start over with are long gone. These days it’s more likely that couples who engage in New Jersey divorce mediation are discussing how to manage their marital debts instead of their marital assets but what do you really need to know before you come to any agreements?
As a New Jersey divorce mediator it’s my job to help couples resolve all the issues surrounding their divorce and the equitable distribution of marital assets and liabilities is one of those responsibilities.  I do get clients who think that divorce mediation is a gateway that they can pass through and all of their debts will be forgiven but that’s not how it works. Even after your divorce mediation your creditors will still want their money. So what can you do?
- Liquidate other assets to pay off your debt – while not ideal, you can pay the taxes and penalties on your 401k and take that money to pay off your credit cards or mortgage. A better option is to see if you can take a loan from your 401k as in that case, you’ll be paying yourself back with interest.  You might also have to make some tough decisions on items of personal property you may wish or need to sell such as that motorboat and trailer you bought a few years back or that recreational vehicle.
- Transfer your share of the debt to a credit card in just your name only – again, not perfect but at least in this case you’re taking your share of the debt and making a clean break once you are divorced. You’ll be in control of how it gets paid and when you pay it off.
- Agree to pay debts off jointly after you’re divorced – probably the least preferable option as it’s been my experience that the banks don’t care if you were each supposed to pay half. If your name is on that credit card and the ex doesn’t pay their share, guess who the banks are going to be looking at? You.
Ideally you should try to clear the slate once you’re divorced even if it means taking personal loans or getting loans from friends and family members as I’m figuring the reason you got divorced in the first place was to sever ties with your now ex-spouse, not to be indebted with them for the next 10 years. No matter which route you go, it’s best to work with a New Jersey divorce mediator with a thorough understanding of financial matters like myself who can help guide you and your spouse to a fair and equitable distribution of your marital assets and liabilities.
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Joseph Dillon is an Accredited Professional Divorce Mediator in NJ and Managing Partner of Equitable Mediation Services a New Jersey divorce mediation practice with offices in: Morristown, Roseland (Livingston), Short Hills, Iselin (Metropark), Bedminster, Bridgewater, East Brunswick, Red Bank and Princeton. Mr. Dillon may be reached by calling (908) 864-2177.
