Going through any divorce is a challenging and complex legal process. However, this can be even more stressful if you are a stay-at-home parent. When you sideline your career to raise a family, you may worry about your financial future after the divorce. If this sounds like your situation, you’ll want to keep reading. You’ll learn what you can do to protect yourself and how a Morris County divorce & separation law firm can help you navigate these complex legal matters.
I’m a Stay-At-Home Parent. What Can I Do to Protect Myself?
As a stay-at-home parent who was served divorce papers or wants to initiate a divorce, knowing how to proceed is essential. The first thing you should do is gather information about your finances, especially if you are not the party who handles the bills. This includes bank and credit card statements, information about mortgages, tax records, life insurance policies, and paystubs. Not only is this necessary for your attorney, but it can also give you a better understanding of what you can expect your finances to look like following the separation.
Next, you may want to consider looking into employment opportunities. This can be intimidating, especially if you have been out of the workforce for a while since starting a family. However, looking for full or part-time positions can help provide a sense of financial security following a divorce.
What Else Should I Know?
Many stay-at-home parents worry about how the state will divide their marital property. New Jersey follows equitable distribution, which means the courts will consider how much each party contributed to the marriage before dividing property. As such, many who remain home with children worry they will not receive assets because they did not contribute financially. However, the state recognizes that stay-at-home parents contribute heavily to marriage by raising children and caring for the home. As such, it is often considered equal to work outside of the home.
Unfortunately, if you have not worked in several years or have never worked outside of the home because you have always been the stay-at-home parent, knowing how to proceed can be exceptionally difficult. As such, it is in your best interest to avoid trying to navigate this process on your own. Though many sites offer “DIY” divorce kits, they can often be deemed invalid. Similarly, having an attorney on your side can help you fight for the most favorable terms for your divorce.
At Haber Silver Russoniello & Dunn, we understand how complex these issues can be. As such, we will do everything possible to help you through these complicated and challenging times to help you transition into the next chapter of your life with ease. Contact us today to learn how we will fight for you.