As previous posts here have mentioned, there are quite a number of potential issues to prepare to address in a divorce case. But, for many people, besides the issues that deal with their children, the main concern is property division. So, what can you do to be prepared to talk about property division options in your divorce case?
Well, for starters, you’ll need to make sure that you have copies of all of the appropriate documents that might be needed in the property division process. For example, you will need copies of: your tax returns for the last few years; paycheck stubs; copies of your spouse’s paycheck stubs; deposit and withdraw statements from your bank; relevant information about pensions and retirement accounts; mortgage documents; investment information; life, automobile, health and home insurance policies; estate planning documents; a draft monthly budget for your household; and a copy of your prenuptial agreement, if applicable. Of course, given any particular case, there may be more documents that will become important in the property division process.
But, besides gathering copies of all of the relevant documents, New Jersey residents who are going through a divorce will also want to prepare by thinking about their goals in the property division process. What items of property are important for you to focus on keeping? Do you want to keep the family home or sell it and split the proceeds? Are there certain items of property that have sentimental value? Are there debts that you believe your soon-to-be ex-spouse should be responsible for after the divorce? These, among many other considerations, will need to be part of your preparation process.
Every issue in a divorce can seem like the “end-all, be-all,” but property division can be particularly tricky. Knowing your assets, your goals and your legal options can make the process easier to navigate.