Divorce settlements best based on long-term needs of both spouses | Lane & Lane, LLC
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Divorce settlements best based on long-term needs of both spouses

Certain occurrences in life are naturally emotional, and it is not uncommon for people to rely on the support and advice of friends and family to get through difficult times. One such a traumatic experience is a divorce, and although such advice is typically provided with the best of intentions, the dynamics of each family are unique. The legal guidance of a family law attorney may be more appropriate. New Jersey couples may fail to look at the long-term consequences and focus only on the immediate aftermath of the divorce.

By way of example, a divorce settlement may include the mother getting the family home, a car, spousal and child support; the father will keep his car, get an apartment and agree to pay support for his ex and the children. This may seem fair and adequate in appropriate circumstances, but two or three years down the line it may become evident that future needs were not considered. The roof of the house may need replacement, and cars can become unreliable. To save up for the kids' college educations, mom might have to find a job, thereby creating extra expenses for clothing and commuting.

On the other side of town is the father who is complying with support obligations; along with a progressing career, perhaps he has growing retirement accounts. Divorcing parties must try to leave their emotions at the door when they seek to negotiate a settlement. This may allow them to be realistic in their assessment of future needs and address how all parties can be accommodated to allow financial stability in years to come. If this mother had a clear picture related to the costs of maintaining a home on a single income, she could have made informed decisions that might have included the option to sell the home and split the proceeds.

New Jersey couples who are considering divorce typically benefit from the support of their respective divorce attorneys. In some circumstances, reaching agreement on contentious issues may be best facilitated by a professional divorce mediator. Whether through mediation or litigation, the support and guidance of an experienced family law attorney can be invaluable. The lawyer monitor the legality and fairness of the final agreement and provide valuable input based on years of experience.

Source: womansdivorce.com, "Getting A Fair Divorce Settlement", Deborah Williams, Accessed on Oct. 21, 2016

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