Heymann & Fletcher

Getting divorce early in the year has several benefits

For those in New Jersey who are interested in finally getting a divorce, going through the process now versus later in the year has many benefits. These include emotional benefits, such as being able to plan for a fresh start relationally following the divorce. They also include financial benefits.

As people begin the New Year, it is natural for them to reassess where they are in many aspects of their lives, including their marital relationships. For some individuals, 2015 was spent trying to repair a bad marriage. Now, in the New Year, people may feel it is time to bring their failing marriages to an end and experience the freedom that comes with divorce.

Yet another benefit of getting divorced at the beginning of the year is that all year-end income from the previous year has already been documented. In many divorce situations, spouses take steps to avoid having to split assets in the divorce settlement agreement. This is true even though hiding assets is not only underhanded but also illegal. Having year-end income already documented makes it harder for a future ex to hide income that should really be divided.

To be prepared for divorce, it is necessary to gather one's financial paperwork as soon as possible and assemble a divorce team. This team includes legal counsel and may even include a financial advisor. Appropriate legal guidance may help people to fight for their best interests when dealing with matters such as asset division and property distribution during a divorce proceeding in New Jersey.

Source: Forbes, "Should You Start Divorce Proceedings In January?", Jeff Landers, Jan. 26, 2016

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