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Divorce can be tough emotionally, financially

| Jan 11, 2018 | Divorce

Getting divorced can be a financially complicated process. However, what makes divorce so different from other business transactions is that it can lead to scarring, deep emotions that can be difficult to handle. A couple of tips may help with successfully navigating the emotional and financial aspects of this type of family law proceeding in New Jersey.

One of the biggest mistakes that spouses make when going through divorce is not being honest. That includes being honest with themselves about what they want out of the divorce, as well as being honest with the other party about their assets and liabilities, for example. However, it also includes being upfront with an attorney. Sometimes, clients are embarrassed to reveal all relevant information to an attorney, but the reality is that the attorney needs these details to manage the divorce case properly.

In addition to taking advantage of an attorney’s expertise, having a few other professionals on one’s divorce team is critical. A strong support team may include a CPA, a therapist and a final planner, for example. These individuals play an important role in helping a divorcing spouse to make educated decisions about financial matters, rather than being dictated by his or her emotions.

In many cases, spouses who are able to find common ground when dealing with property division and other divorce issues can avoid going to trial, which can be expensive and stressful. Instead, they can mediate their divorce, where they work toward a mutually satisfactory settlement. Whether a spouse ends up going through mediation or litigation, an attorney in New Jersey will push for the most personally favorable outcome for him or her, given the facts of the divorce case.

Source: forbes.com, “Alleviate Divorce Pain By Avoiding These 7 Common Mistakes“, Michael F. Kay, Jan. 9, 2018