If you are about to get a New Jersey divorce, there are several things you want to do to prepare. While divorce can be complex, preparing early in advance can make the process less complicated. The more effort you put into preparing for your divorce, the better. If you dedicate enough time and effort to preparing for your divorce, the divorce process is bound to be smooth. Additionally, the more time and effort you devote to preparing for your divorce, the higher the chances of you being satisfied with the outcome of your case.
When preparing for a New Jersey divorce, it is crucial to rely on the guidance of a qualified divorce attorney. So, if you are about to get a divorce, consult a lawyer to find out how to prepare for your divorce. That said, the following are some steps you can take to prepare for your New Jersey divorce.
Inventory Your Assets
When preparing for divorce, you might want to begin by listing all the assets (tangible and intangible) you and your spouse own. Tangible assets include real estate, furniture, and vehicles. Intangible assets include retirement accounts, bank accounts, and cryptocurrency wallets. Unless you have a valid and enforceable pre-nuptial agreement, asset division will likely be a major issue during the divorce process.
Distinguish Between Marital and Separate Assets
In New Jersey, only marital property is divided between spouses during spouses. Marital property will be equitably divided between you and your spouse during your divorce. Equitable distribution does not mean an equal split, though a 50/50 split is possible. Instead, it means that assets must be divided in a fair manner. During divorce, the court will consider several factors outlined under New Jersey law to determine what is equitable. When making a list of your assets, note which ones are marital and which are separate. Generally, any asset acquired during marriage is considered marital property, whereas anything you owned before you got married is considered separate property. Separate assets are not subject to equitable distribution in New Jersey.
Collect Your Financial Records
Finances will play a crucial role in various aspects of the divorce process. For instance, they will determine what you or your spouse owe for child support (if you have children) and how much you or your spouse can seek as alimony. It is crucial that you identify all income sources and collect, among others, your income and tax records, copies of recent bills, and statements pertaining to your debts.
Learn About the Divorce Process
As mentioned at the beginning of this article, divorce can be a complex process. It is crucial that you have a clear understanding of the divorce process before you get into it. In preparation for your divorce, research grounds for divorce in New Jersey, filing for divorce in New Jersey, and what to expect during the divorce process. The New Jersey Courts website is a good place to begin your research. An experienced NJ divorce lawyer can also offer you all the necessary information.
Contact Us for Help
If you are about to go through a divorce and need help preparing, contact our qualified New Jersey divorce lawyers at the Trabosh Law Firm.