Signs that the end of a marriage is near often do not appear suddenly. Usually, there are symptoms such as emotional detachment, spousal absence or nonstop bickering. Many Bergen area couples who are getting ready to go through the separation process may find themselves ill-prepared for the financial aftermath.
The care of the children is one of the most important matters when parents divorce. Even the most well thought out custody arrangements may become old and out of date as the child becomes older.
Many college students, no matter their parents' income, fill out the FAFSA in hopes of maximizing the financial assistance they get for college. The process can be relatively straightforward for children whose parents are married to each other.
States in the Northeastern United States, including New Jersey, have some of the lowest divorce rates in the country, according to the U.S. Census Bureau. That statistic can be partly attributed to the fact that people tend to marry later in life in New Jersey when compared to other states.
New Jersey actually has one of the lowest divorce rates in the country. According to a 2016 article in The New York Post, the only states that have fewer divorces than New Jersey are Wisconsin, Rhode Island and Delaware.
One sneaky tactic that your spouse may use as financial protection during your divorce is hiding assets. Many people in New Jersey resort to hiding assets before and during their divorces, not realizing that it is illegal and unethical for them to do so. Many of them also do not understand how it impacts the property division process. Your divorce situation may already be stressful enough without you having to worry about your spouse trying to cheat you out of your fair share of the marital property and assets.
You have made it this far. You have split the debt and the assets, determined a child custody arrangement that works and are ready to sign the divorce decree. Before you put the pen to paper, there is one thing you may not have considered. Have you changed your insurance policies?