Safeguarding one's financial future during divorce in New Jersey | Lane & Lane, LLC
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Safeguarding one's financial future during divorce in New Jersey

Many individuals in New Jersey and elsewhere consider their financial future to be of the utmost importance. When facing divorce, a person might have concerns about how the outcome may affect this area of life. While the end of a marriage can be a stressful and intimidating experience, there may be certain steps a person can take to prepare for the financial aspects of the process.

One of the first steps to take is to gain an understanding of current marital finances. For those who are constantly involved in this aspect of a marriage, this may seem like second nature, but if the other spouse takes the lead in this area, the process can become complex. Regardless of how familiar one is with the current financial standings in the marriage, it may be advisable to obtain documentation of all assets, as well as their values, which can help a person be better prepared for subsequent negotiations.

Another area of concern for many couples who are going through a divorce is the family home. How to handle the family home is a major decision, and one will likely benefit from exploring the potential advantages and disadvantages of each available option. Other assets that may require a great deal of consideration are investment and retirement accounts, and one will also find it advisable to ensure the proper documentation is in hand before attempting to divide them.

Along with the potential of being a highly emotional process, divorce can also be complex. Individuals who wish to safeguard their financial futures might benefit from speaking with a family law attorney for guidance in navigating the process. An attorney in New Jersey can provide a client with advice in covering every aspect of divorce, and assist in pursuing the most favorable outcome possible during subsequent legal proceedings.

Source: CBS News, "Divorce tips for financial security", Jillian Harding, Nov. 13, 2017

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