Heymann & Fletcher

Understanding cash flow needs essential during divorce

In marriage, the finances can be complicated. For instance, sometimes they are imbalanced because some investments are in only one of the spouse's name rather than being in both parties' names. In addition, sometimes the financial affairs are intertwined. This can make a divorce proceeding in the state of New Jersey difficult to navigate.

One of the most important steps at the beginning of a divorce proceeding is to be aware of one's cash flow needs. This will help with deciding which assets may be best to keep versus leave for a future ex-spouse. For instance, keeping half of the family business or house may not be as personally beneficial as keeping half of the investments instead.

Having both a financial plan and a net worth statement on hand prior to going into divorce negotiations involving property settlement can put one in the most ideal position to request the type of property division desired. Settling the divorce as quickly as possible is also essential to protect finances. A major problem during the dissolution of marriages is that assets are spent down while asset division is being debated by both sides.

Both divorce negotiation and mediation--alternatives to litigation--may make it possible to reach a mutually beneficial settlement as soon as possible. However, it may be difficult to find common ground on particular issues related to property division in the state of New Jersey. In these situations, a judge will have to get involved and make the final decision for a couple.

Source: fayobserver.com, "Divorce & Investments", Tracy Sorzano, Feb. 23, 2017

No Comments

Leave a comment
Comment Information
Email Us For a Response

How Can We Help?

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Office Location:

Heymann & Fletcher
1201 Sussex Turnpike
Randolph, NJ 07869

Toll Free: 800-481-8549
Phone: 862-781-0029
Randolph Law Office Map

Heymann & Fletcher
Mailing Address
PO Box 518
Mount Freedom, NJ 07970

Toll Free: 800-481-8549
Phone: 862-781-0029