The dissolution of a marriage in New Jersey is never easy to navigate, and the more wealth a couple has accumulated, the tougher it can be. Unfortunately, some misconceptions related to divorce can make the process even more complicated. A couple of major divorce-related misconceptions involve spousal support and the need to hire an attorney.
Spousal support, also known as alimony, is a relatively tricky area of divorce law. Some spouses assume that support is based on their current income as a couple. In reality, support is based on their potential income.
The spousal support that one party will have to pay the other will be a percent of the difference between the potential income of the high earner and that of the low earner. For this reason, it is not advisable to try to land a job that pays a low wage in an effort to decrease the amount of support one must pay. After all, the potential income from the former job could still come into play in the judge's decision.
Some divorcing parties in New Jersey also think they can go through the divorce process on their own. The reality is that legal issues are inherently complex. An attorney can help with filing divorce-related documents and assist a client with making life-impacting financial decisions -- such as those involving spousal support, child custody and the division of marital property -- during this type of family law proceeding. The attorney will strive to ensure that one's relevant rights are met and that a personally favorable settlement is ultimately achieved.
Source: bizjournals.com, "6 common misconceptions about divorce", Lewis I. Landerholm, July 10, 2017