When you are going through a divorce, there are several critical considerations you must make. However, as a stay-at-home parent, you may need to take extra steps to shield yourself during this challenging time. It’s not uncommon for those who remain at home to worry about their financial future as they have likely been out of the workforce for a while. If you’re concerned about your divorce, a Somerset County divorce attorney can help you through this process. Keep reading to learn more.
How Can I Protect Myself as a Stay-at-Home Parent During Divorce?
If you are not the person who handles the bills in your family, you’ll want to gather all financial documents. This will give you a better understanding of your financial circumstances, helping you anticipate how much you may receive when assets are split. You should collect bank account and credit card statements, tax returns, insurance policy information, and details on your retirement accounts. Not only can these provide insight into your financial status, but your attorney will also need these documents.
Next, you should begin considering your employment opportunities. You may receive child and spousal support, which can help you maintain the standard of living you were used to prior to your divorce. However, many divorced spouses do not want to be reliant on their ex, so looking into job opportunities can help you become financially independent.
Finally, you’ll want to make a note of all personal and family possessions. Unfortunately, there is no guarantee that you will receive the exact assets you want, but this allows you to address them during court proceedings. Also, this helps you know whether or not your spouse is hiding assets.
What Else Should I Consider?
New Jersey is an equitable distribution state. This means that marital property is not divided evenly but will be split based on how much each party has contributed to the marriage. Many stay-at-home parents fear they will get nothing, but this contribution is not only financial. The state understands that parents who raise children contribute just as much to the marriage and will take this into consideration. As such, you can rest assured knowing you will receive a portion of your marital assets.
As a stay-at-home parent, it is in your best interest to consult an experienced attorney when served with papers or looking to initiate a divorce. While you may think it’s better to “do it yourself,” this can do more harm than good. You may not receive the assets you are entitled to, and your divorce can be unfavorable.
Instead, enlisting the assistance of a lawyer from the Siragusa Law Firm can give you the best chance of receiving a favorable outcome. As a stay-at-home parent, you have enough to worry about between raising your children and planning for your future. As such, you can rest assured knowing the legal complexities of your divorce are in capable hands. Contact us today to learn more about how we can help you.