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Finances can be challenging to stay on top of during divorce

On Behalf of | Nov 13, 2019 | Divorce

Even in the best of circumstances, ending a marriage can be challenging. The reason for this is that those going through divorce must handle the emotional part of divorce along with the finances and logistics of marital dissolution. Here is a look at how divorcing individuals can keep the money part, in particular, under control in New Jersey.

First, it would behoove individuals who are going through divorce to gather their monetary records as soon as possible. These records range from tax returns to bank statements, loan documents, statements for credit cards, insurance policies and property records. These documents will give a divorcing party a clear understanding of what assets have to be split as part of the divorce process.

Second, it is important to work with an attorney on how to handle property division and other parts of the divorce process. The attorney can help a divorcing party to avoid getting stuck with unfair debt. At the same time, the attorney will make sure that he or she pursues all of the assets to which he or she is entitled.

In many divorce cases in New Jersey and elsewhere, divorce issues can be handled outside of court, thus allowing divorcing parties to avoid further court intrusion. However, this is not always the case. If two people cannot find common ground regarding what to do with the marital home or concerning child custody, they must rely on a judge to make these decisions for them. The attorney will be prepared to litigate these matters with the objective of achieving the best possible result for the client.