Although divorce among New Jersey residents may be common, it does not make the process any less significant or emotional. Because divorce can be such an emotional time, most people do not come to the decision to seek divorce until they have thought about it for a long time. For those who are considering a divorce, there are a few important preparation steps. .
The first order of business in preparing for a divorce is to make sure the financial paperwork is in order. During the divorce process there will be a lot of time spent on property division and other financial matters. There are several financial and legal documents that need to be gathered for the divorce process. It can take time to gather these documents so spending the time necessary in advance of filing can be helpful in speeding up the proceedings.
Second, it is important to know one’s own personal credit score and establish one’s own personal bank account. Knowing a credit score and making sure it is good is the key to a strong financial future. Make sure the credit report does not contain any errors and any errors that are present are corrected. Establish a personal checking and savings account along with a personal credit card account in order to manage household expenses after the divorce.
Third, after establishing these bank accounts make sure there is money in them. Divorce can be expensive, especially if there are disputes that lengthen the process.
Fourth, put together a divorce team who will offer support throughout the entire process. A family law attorney and a financial planner who can work through every possible settlement option are a good start.
Source: Forbes.com, “(Soon to be) divorcing women: What are you waiting for? Here’s how to prepare to file,” Jeff Landers, June 26, 2014
