Preparation for Divorce in Teaneck
Divorce can be scary. You do not know what to expect or what your future looks like. When someone is thinking about a divorce, they often have questions that they don’t know the answers to. How often will I see my kids? Do I get to keep my retirement? Will I have to sell my house? How will I pay my bills without my spouse’s income? The list of questions goes on and on. If you have decided that you are ready to start moving forward in the divorce process, our family law attorneys can help you with preparation for divorce in Teaneck.
Calculating Child Support
To prepare for calculating child support in Teaneck, a divorce attorney needs the income information of both spouses. Child support is calculated by examining your gross income and certain allowable deductions. The number of children being cared for is also considered. A person should gather their last six months of paystubs. A couple’s last few years of personal tax returns can provide valuable income information. This will give an attorney an idea of total income that they can use to estimate child support.
Documentation of costs for health insurance for the children should also be gathered. A parent can typically get a breakdown of insurance costs from their HR department. If the children attend daycare, ask the daycare provider for receipts for daycare costs for the last 6 months. This expense will also need to be considered when calculating child support. Also, if a child has any extraordinary expenses, such as needing certain medical care, get actual copies of the bills for these expenses.
Documenting Assets and Debts
A person should prepare a list of assets and debts. In a property list, a person should include all major assets such as homes, vehicles, boats, retirement accounts, bank accounts, investments, and other items of value. A person should also compile a list of debts. This list should include any credit card debts, loans, mortgages, medical bills, student loans, or other personal debts the couple has accumulated. It is best to provide an actual copy of each statement. Including your personal tax returns and any business tax returns can also be valuable. With actual statements, there is no guessing at totals and a person can provide hard numbers to a Teaneck attorney while preparing for the divorce.
Listing Monthly Expenses
Compiling a list of monthly expenses can also be helpful in preparing for a Teaneck divorce. A monthly expenses list should include the following:
- Rent/Mortgage
- Utilities
- Vehicle Insurance
- Renters Insurance/Home Owner’s Insurance
- Health Insurance
- Internet
- Groceries
- Cell Phone
- Gas
- Clothing/Household
- Car Payment
- Other Loan Payments
- Credit Card Payments
- Other Recurring Monthly Expenses
If a spouse is planning to move to a new home or apartment while the divorce is pending, they may not know how much all their expenses will be. In this situation, it is a good idea to do some preliminary research on what rent may cost. Speaking to a realtor can give an idea of what the average rent may be in the area, along with what the other expenses may be if a person decides to rent while the divorce is pending. Compiling a list monthly of expenses and completing this preliminary search, if necessary, can help a lawyer determine if any spousal support requests may be appropriate.
Contact Our Attorneys to Start Preparation for Divorce in Teaneck
Preparation for divorce in Teaneck can feel overwhelming and complicated. Compiling as much information as possible before your first meeting with your family law attorney can help assist you in getting your questions answered. Call Moskowitz Law Group to discuss the next steps for your divorce. Our team is here to support you.
