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Could a divorce prove a financially favorable strategy?

On Behalf of | Nov 20, 2019 | Divorce

There may be a variety of scenarios in which a couple in New Jersey or elsewhere might decide to take separate paths in life. Some of the most common causes of marital strain may include issues such as breakdowns in communication or arguments over finances. However, recent studies indicate that certain circumstances in life have caused many couples to consider taking a more strategic approach to divorce.

With recent changes to tax laws and liabilities, studies indicate that some couples may feel that going through a divorce could help them save money. There may also be certain instances where a person might not qualify for health benefits while married. By dissolving the marriage, the resulting change in assets could help a person become eligible for such benefits and alleviate the need to dip into retirement assets to pay for treatment.

While such a strategy may appear beneficial at times, there are certain issues to address before choosing a path. For instance, in some cases a person may lose access to his or her spouse’s insurance coverage once a divorce is finalized. Addressing issues such as the division of retirement assets may also be a vital step in making informed choices about the situation.

Understanding every crucial aspect involved with dissolving a marriage can be an intricate process. Those who wish to know if divorce is the best path available could find it helpful to speak with a family law attorney for guidance on all their available options. An attorney in New Jersey can address all of a client’s concerns and assist in forming a strategy to pursue the most favorable outcome achievable concerning his or her future.