Divorce: Life's curveballs needs proper handling | Lane & Lane, LLC
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Divorce: Life's curveballs needs proper handling

Life has a way of throwing curveballs with no warning. One of those that can wreak havoc in the life of any New Jersey person is an unexpected divorce. Divorce is hardly ever anticipated, and, when a spouse notices cracks appearing in a marriage, it may be wise to start preparing for the inevitable. Along with the emotional turmoil caused by such a realization, the financial impact can be devastating, and preparing for life on a single income may require careful planning.

Going over credit reports may be a good start to ensure debts linked to the spouse are valid and to address any should be separate. It is important to make copies of all documents that relate to marital assets and keep a lookout for attempts by a spouse to re-title or liquidate marital assets. It may not be a bad idea to retain the services of an experienced divorce attorney to ensure nothing is left unaddressed.

The ideal would likely be for the couple to plan their split together by communicating their concerns and wishes. Many divorcing spouses aim for amicable divorces obtained through mediation to limit the cost, time and emotional trauma typically associated with a litigated divorce. An experienced divorce mediator will encourage communication and compromise with the ultimate goal of reaching a divorce settlement that will be fair to both parties.

In some cases, couples are able to settle some contentious issues but need the court to decide on others. Both spouses, each with the support of his or her attorney and an independent mediator, can work on negotiating as much as possible, which can limit the court's say over issues that will affect the post-divorce lives of the individuals. However, not all New Jersey couples are able to reach divorce agreements through mediation. When the only option is litigation, experienced legal counsel for each spouse is vital.

Source: cheatsheet.com, "3 Money Curveballs Life Throws at You and How to Handle Them", Sheiresa Ngo, March 28, 2016

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