7 Tips for Preparing for a Divorce in New Jersey

One month into 2019 and those resolutions start to dwindle. If you are unhappy with your marriage and are ready to move on to the next chapter of your life, it is a great time to start the divorce process. While some couples benefit from counseling and other forms of intervention, if you are sure that it is time to move on, there is no time like the present to get started.

In fact, in many cases, men will benefit from taking steps to prepare in advance of formally filing for divorce in court. Getting divorced takes time, and disagreements along the way can lengthen the process significantly.

By planning ahead – including gathering the necessary information, organizing your priorities, and thinking about what you can expect from your wife during the process – you can help ensure that your divorce will go as smoothly and quickly as possible.

7 Tips for Preparing for a New Jersey Divorce in 2019

With these considerations in mind, here are seven tips to help you get ready to get divorced in 2019:

1. Take Inventory of Your Assets

A good place to start is taking inventory of your assets. Unless you have a rock-solid prenuptial or postnuptial agreement, distributing your assets is likely to be a major component of the divorce process. All types of assets are potentially on the table, including personal property, real estate, business interests, and financial assets, and you do not want to overlook anything that could become an issue down the line.

2. Determine Which Assets are “Marital” and Which are “Separate”

As you take inventory, make note of which assets are likely to be considered “marital,” and which are likely to be considered “separate.” As a general rule, assets acquired during your marriage will fall into the first category, while anything you owned before you got married will fall into the second. This is critically important. Why? Because while marital assets are subject to equitable distribution, separate assets are not.

3. Review Your Personal and Family Finances

Your personal and family finances will determine what you owe for child support (if you have children) as well as how much your wife can reasonably seek from you for alimony. For both purposes, it is necessary to identify all sources of income and have a clear picture of your monthly household expenses.

4. Collect Your Financial Records

While you are reviewing your finances, you might as well start making copies of your financial records. This includes pay stubs, W-2s, 1099s, tax returns, account statements, and any other records you may have.

5. Begin Prioritizing Your Goals

No matter what, getting divorced inherently involves an element of compromise. As you begin preparing for your divorce, you also want to think about what you want from the outcome of the process. Are there specific assets you want to keep? How much time do you want to spend with your children? These are just two of the numerous questions you will need to answer.

6. Honestly Assess How the Process is Likely to Go

While you are asking yourself questions, consider this: How is your divorce likely to go? Do you think you and your wife will be able to come to terms amicably? Or, are you expecting disagreements at every step along the way? The answers to these types of questions will help in determining which method of divorce will be most beneficial.

7. Learn More about the Divorce Process

Finally, the more you know, the better able you will be to make informed decisions about protecting your property, your finances, and your relationship with your children. Our blog contains several practical articles and resources, including:

• How Will the Tax Cuts and Jobs Act Impact Divorcing Spouses in New Jersey?
• How are Retirement and Investment Accounts Divided in a New Jersey Divorce?
• Will You Be Able to Maintain Your Lifestyle After Your Divorce?
• What are Your Rights and Responsibilities as a Non-Custodial Father?
• Our Divorce Preparation Checklist

Speak with New Jersey Divorce & Men’s Rights Attorney Carrie S. Schultz

If you would like to speak with an attorney about filing for divorce in New Jersey, we encourage you to contact us for a confidential initial consultation. To speak with divorce and men’s rights attorney Carrie S. Schultz, please call 201-514-2438 or request an appointment online today.