Divorce is so many things, but it is in large part a financial transaction. It is essential that you accept this fact early in the process. Your attorney will need to focus on the budget and the reality of the money as soon as possible in order to give you sound advice. No court and no lawyer can undo years of poor financial decisions, that is not an option, but what we can do is focus on preserving and maximizing what exists.
Maintaining the Status Quo
The law requires that both parties maintain the status quo while a divorce is pending. We keep things as they are before money is moved or new expenses are incurred. It is the exception when one party can move out and incur new shelter expenses such as rent while the divorce is pending. It is an uncomfortable reality but, when possible, we do not want to spend time, energy and money creating a new normal that may not become the long-term situation for either party.
The Case Information Statement (CIS)
In every case, you will need to prepare a Case Information Statement (CIS). It is the most important document in your case. It can also be the most overwhelming if you have not been involved in the day-to-day finances. Don’t worry, there are tools we can use (such as demanding discovery and using subpoenas) to learn about the finances if you have not been included, but the more information you know and the more statements and access you can gather, the better your attorney can prepare you for this financial transaction.
Get your attorney involved early to help you prepare for the financial aspects of a divorce. We are always available to answer questions you may have about divorce, child custody, mediation, and other matters in family law. Please feel free to reach out to us at 908.237.3098 or use this contact form.
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