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Preparing for divorce in the New Year

On Behalf of | Jan 4, 2024 | Divorce

The holiday season is often a time for togetherness and tradition, and people considering divorce may not want to disrupt the positive nature of the season by announcing a divorce during this time. For others, the stress and strain often brought about by the holiday season may act as a motivating factor to move forward with this process as soon as possible. If you are thinking about divorce in the new year, it is important to start preparing for challenges you will face and decisions you will make.

Regardless of why you are making this decision or the approach you and the other New Jersey spouse will take, preparing for what is ahead can allow you to face the future with confidence. Your preparation will put you in a better place from which you can make confident decisions that will be in your interests and the interests of your children. Your long-term interests are on the line, but there are ways you can protect yourself as you move ahead.

Smart decisions and positive decisions start now

Many call January “divorce month” due to the sheer number of divorce petitions that are filed after the conclusion of the holiday season. Whether you plan to file in January or at a later point, there are steps you can take that will allow you to prepare yourself for the upheaval and transitions often brought about by a divorce. Some of the steps you can take include:

  • Take a complete inventory of all your assets, including accounts, retirement funds, long-term savings, physical assets, digital assets and more.
  • Make a list of all your liabilities, including your debts, mortgages, credit card accounts, personal lines of credit and other potential sources of debt.
  • Speak with experts who can help you understand what to expect and learn how you can protect your interests.
  • Close joint accounts and make a budget that will allow you to adjust to your post-divorce circumstances.

The steps you take now have the potential to impact your life long-term, even if you do not plan to divorce immediately after the start of a new calendar year. If you are unsure of how you can protect your interests or make smart decisions for your future, you will benefit from speaking with a professional regarding the steps you should be taking to prepare.