Decisions made during divorce proceedings can have a major impact on your future financial security. Getting the maximum amount you are entitled to in a divorce settlement should be a top priority. The following are questions to ask yourself during these negotiations and before signing any legal documents.
Issues to Consider Before Agreeing to a Divorce Settlement
In any divorce, there are decisions regarding division of marital property and assets which must be made. Under New Jersey Family Court rules, financial disclosures are used to list financial accounts, real estate, personal belongings, income, and other items of value.
Negotiations will generally be held between the both of you and your attorneys to determine how to divide these assets in a way that is fair to everyone involved. Questions you need to ask yourself before considering any settlements include:
Did your spouse engage in marital misconduct?
Under Section 2A:34-2 of the New Jersey Statutes, divorce may be filed on the basis of irreconcilable differences. This is often referred to as a no-fault divorce. You may also be entitled to a divorce based on fault grounds related to actions your spouse took during the marriage. These include issues such as adultery, habitual drunkenness, domestic abuse, criminal activity, and abandonment.
All of these activities create hardships in your marriage which jeopardize your financial security. If your divorce is filed on the basis of these grounds, it may entitle you to a larger portion in a settlement.
Are you being compensated for the sacrifices you made during the marriage?
It is not uncommon in a marriage for one spouse to sacrifice his or her own career for the sake of supporting the partner or to take care of children. In this case, you may be entitled to spousal support or alimony. This can help you to get the skills you need to re-enter the workforce and can ensure you are financially provided for while you get back on your feet.
Do you have children that need to be taken care of?
Child support payments are meant to provide for the care and support of children of your marriage. These payments are based on both parents’ income and the amount of time the children spend in each one’s home. However, your child’s age or stage of development may require you to remain home with them, rather than returning to the workforce. In this case, you may be entitled to spousal support or a greater portion of property and assets in your settlement.
Are there any assets you spouse may be hiding?
According to Forbes, it is common for spouses to hide assets during divorce to avoid having to divide them in any resulting settlement or divorce order. If you suspect this may be an issue, discuss it right away with your divorce attorney.
We can check bank statements, past filed tax returns, property records, and other documents to uncover these assets. Even if you have already signed a settlement or an order was issued in your case, we may be able to go back to court based on new evidence.
Get Trusted Legal Guidance From Our Middlesex County Divorce Attorney
At the Law Office of Jordan B. Rickards, Esq., we provide the trusted legal guidance you need when going through a divorce. We review all aspects of your case, taking the appropriate actions so that you can get the maximum amount you are entitled to in your divorce order. Contact our Milltown divorce attorney online today and request a consultation.