Preparing for a New Jersey Divorce | What to Know

A divorce is a difficult process, but knowing what to expect can make things much easier. Read on for some important tips to help you prepare for your divorce.

Divorce preparation tips:

  • Find the right attorney: It is important to have an experienced divorce attorney at your side during the divorce process. Divorce can be stressful, so it is crucial that you have someone who can walk you through the process and advocate for you.
  • Separate your bank accounts: During your divorce process, you and your spouse will need to separate bank accounts. In order to achieve this, you will need to withdraw your money into an individual account and notify your former spouse that you have done this. This will provide you with security knowing that your former spouse cannot abruptly withdraw all of the money in your shared account. It is important to do this early on in the process, as finances are often the most contentious part of a divorce.
  • Know the amount of money you and your former spouse have: To fully protect your finances, you will need to have full knowledge of the money in your account. To have a full understanding of the money you have, it is important to know the balance of you and your former spouse’s 401(k), credit card bills, 529 accounts, savings plans, and more. It may be a good idea to work with a forensic accountant.
  • Create an emergency fund: It is a good idea to create an emergency fund. This can be utilized to support your financial well-being in the event that a number of your assets are within the control of your former spouse.
  • Check if your former spouse requires insurance: You will need to make sure that your former spouse is insured if they are making alimony or child support payments. If the payer passes away, their estate will accommodate any funds that are owed.
  • Do your research: There are a number of different ways to get divorced. For example, is your divorce contested or uncontested? Do you want to cite fault grounds? Do you want to go through the process of mediation or litigation? Understanding the process can be extremely beneficial.

If you are getting divorced, our firm is here to help. Reach out today to speak with an experienced attorney.

Contact our experienced Red Bank firm

Our firm proudly represents clients in New Jersey who are faced with matters of family law, criminal defense, business law, real estate law, or estate planning. If you require strong and dedicated representation for any of your legal matters, please do not hesitate to contact The Law Offices of George J. Mardinly to schedule a consultation.