The more information you have, the easier your divorce may be

During your marriage, you and your spouse may have made many of the household decisions together. On the other hand, you may have felt as if you bore the brunt of the responsibilities while your spouse provided little input or help. Whatever the case, now that your marriage is coming to an end, you will need to know how to make the best decisions for you and your individual future.

Going into this situation blind would be a significant mistake as the decisions you make now could affect you for years to come. Each New Jersey divorce is different, but there is some common information that could help you during the decision-making process that comes with dissolving a marriage. In fact, the more information you have about your personal circumstances, the better able you may be to get the outcome you want from your case.

What do you need to know?

Whether you handled all the financial matters of the household or your spouse addressed those matters, knowing what your marital finances look like is essential. You may just need a refresher, or you may need a full crash-course on the accounts that hold your marital funds, the household expenses and more. New Jersey is an equitable division state, which means that the court will divide your marital property as fairly as possible, so it is crucial that you understand what counts as marital property.

Some other matters to keep in mind include:

• How taxes will affect any property you may retain as part of the divorce settlement.
• How any decisions you make now regarding your divorce could affect you long term, particularly when it comes to child custody, spousal and child support, property decisions and more.
• Whether you may have a right to any lawsuit settlement payments or other payouts your spouse received during the course of your marriage.

Divorce can certainly be complicated, but it is critical that you know how to help yourself work toward an outcome that would be in your best interest. Reaching out to tax professionals and other parties who could provide you with much-needed assistance during this time could ensure that you obtain reliable information about your particular situation. Remember, you deserve a future of happiness and fulfillment, and making the best possible choices now could help on that journey.