SJM_ATE_2_26 . qxp_Pages 2 / 18 / 26 6 : 15 PM Page 1 SPECIAL ADVERTISING SECTION ask the expert questions and answers FINANCES ATTORNEY ATTORNEY As many of you know , I’ve been in prac - Do any conditions automatically qualify Will I have to sell the marital home as tice since 1958 and my partner and son , to receive disability benefits through part of the divorce ? Lee , has been working with me since The Social Security Administration ? InNew Jersey , any assets or liabilities acquired 1984 — that’s quite a few years in this No - there are no conditions or disabilities that fromthe date of marriage until the initiation of profession . The two - part question we have automaticallyqualify a person for Social Secu - divorceproceedings are subject to equitable used to help clients is as follows : Would you rityDisability Insurance ( SSDI ) or Supplemen - distribution . If you and your spouse purchased buy the same assets you own right now if you talSecurity Income ( SSI ) . You still must meet ahome during your marriage , both parties will didn’t own them ? If you can’t answer yes — othercriteria - such as proving that you have havean interest in the equity in the home . then you answered the question . earnedenough work credits and / or that you Insome cases , both parties may agree to The second part of the question we ask arenot currently engaging in substantial gain - list the property for sale . If the home is to be people is simply : Why do you own what you ful activity . There are , however , certain condi - sold , the parties will decide on a mutually own ? tionsthat may make it easier and faster to acceptablerealtor , follow the realtor’s If you can’t explain your investment strat - qualifyfor SSDI and / or SSI . These conditions reasonablerecommendations , and fairly divide egy in simple terms and in the length of a arelisted on The Social Security Administra - theproceeds after payment of the usual costs short ride — you probably tion’s Listing of Impairments on www.ssa.gov ofsale . shouldnot own it . If and are broken down into 14 categories . However , if you wish to retain your marital youcan explain your investment strategy to a Some conditions are so severe that you homefollowing the 13 - year - old , you’ve simplified it enough to divorce , that is also know what matters . When you can do that , mayqualify for presumptive disability and / or a common . First , it will be necessary to obtain the market noise and hype will disappear and compassionateallowance . This is a strict legal anappraisal on the property to determine the you’ll be left with a clear plan for why your determinationand doesn’t consider unlisted fairmarket value . Then , you will need to money is where it is and what will make it illnessesthat don’t precisely meet the criteria determinethe amount of outstanding debt grow . nomatter how severe . Presumptive disability associatedwith the home , for example This is the time in the investment cycle to allowsa person to receive SSDI and / or SSI mortgagesand liens . Thereafter , the parties get that second opinion . The SHM Financial benefitsfor up to 6 months while the SSA re - arefree to attempt to agree to the equity in Group has provided financial counseling and viewstheir application . Compassionate al - thehome and the equitable distribution credit help since 1958 , so let us know how and when lowance is available in situations where a per - dueto the spouse who will not be retaining we can be of assistance . sonhas a life - threatening disability . With theproperty . The spouse that wishes to keep Email mary @ shmfinancial.com to compassionateallowance , the SSA expedites thehome will likely need to refinance the schedule an initial 15 minute phone call / theprocessing of a person’s application to mortgageto pay the negotiated equity appointment . On boarding made easy – just a makea decision more quickly . While you still buy - outfigure to the other party . few clicks and we are ready to assist . ( modern haveto fill out an application for SSDI / SSI , high tech money management ) . theseconditions are typically so severe that you will qualify for benefits . The SSA also of - fers an expedited review for applicants with a terminal illness . The SHM Financial Group Bross Frankel PA Florio Perrucci Steinhardt Cappelli & Stan and Lee Molotsky Richard Frankel Tipton LLC Creating financial security for clients 725 Kenilworth Ave . Brian Budic , Partner since 1958 Cherry Hill , NJ 08002 1010 Kings Highway South 1010 Haddonfield Berlin Road , Suite 305 ( 856 ) 795 - 8880 Building 1 , 2nd Floor Voorhees , NJ 08043 BrossFrankel.com Cherry Hill , NJ 08034 ( 856 ) 454 - 5110 | ( 800 ) 666 - 3974 ( 856 ) 628 - 8377 SHMFinancial.com FlorioLaw.com SOUTH JERSEY MAGAZINE volume 22 issue 11 SouthJerseyMagazine.com 48 |