Matawan Divorce Law Blog

For New Jersey parents, getting a divorce can be a scary experience in large part due to the fact that they will need to figure out a way to raise their children with a partner they are no longer married to. Part and parcel of this for both parents is figuring out how to balance time and share time with each other so their kids can maintain and continue strong relationships on both sides.

Parents.com recommends that moms and dads focus strongly on the quality of the time they have with their children over the quantity of that time. That does not mean they try to fit too much into every moment as that only ends up leaving parents and kids exhausted. Rather, creating quality time requires ensuring that a connection and bonding is able to occur.

If you are like most married people in New Jersey, you have named your spouse as the person who would be responsible for making financial or medical decisions on your behalf if you would ever be rendered unable to do so. Your spouse is also likely the executor of your will and the beneficiary of any retirement account or life insurance policy. That fact means that these things should all be reviewed and updated when you get divorced.

As explained by Forbes, some parts of your estate plan may be able to be changed once you separate from your spouse but other parts might need to stay in place until your final divorce decree has been signed. Some of the things you will want to check into include your financial power of attorney and your advance health care directive. You will also want to reconsider who you would like to inherit your belongings and assets after you die.

Residents in New Jersey who have children that are seniors in high school now may well be looking ahead to sending their kids off to college next fall. That may also mean that they are trying to figure out how to pay for that college education. For many people, financial aid becomes an essential part of funding higher education for kids and a primary step in receiving such aid is the completion of the Free Application for Federal Student Aid, also referred to as FAFSA. 

The FAFSA requires that parents provide their financial information so that the government and schools can identify what aid their child might qualify for. When a couple is divorced or even separated, it may not be clear which person's information should be reported on the form.

As your divorce is underway in New Jersey, you face the need to make many important decisions regarding your future as an independent person. For example, you may need to negotiate a child custody agreement, participate in mediation for the separation of any assets you shared with your spouse and prepare to pay alimony if it is required. At Robin Jill Schneider, we have helped many people to organize their affairs in preparation for getting divorced.

As you prepare to separate from your spouse, one of the most critical steps you will need to take involves organizing your finances and reassessing your budget to plan for alimony and child support. According to Entrepreneur, you should begin budgeting for alimony as soon as divorce discussions begin. Before thinking worst-case scenario, remember that you may be able to negotiate a temporary plan where your obligation to pay alimony will expire once certain conditions are met. Often, you may be required to pay alimony if your spouse stayed at home with your children during the marriage or is disabled and unable to maintain employment.