The financial ramifications of a divorce on New Jersey residents can be as devastating as the emotional impact. This can be the case no matter which spouse earns more money or if both people earn relatively equal amounts. The need to split assets and debts alone can result in a serious change in financial status and then things like child support or spousal support can only add to the situation.
There can also be the concern of losing out if one spouse starts making financial changes before a divorce is ever initiated. In fact, these changes may be signs that your spouse is planning a divorce. It is for this reason that Time recommends you should always be active in your marital finances. The more you know and are involved, the less likely your spouse will be to hide assets or move things around in covert ways to plan for a divorce.
Things that may signal thoughts of divorcing might include unexplained withdrawals or changes to income deposits. Instead of putting more money into investments, less is saved but you may not know where the remaining money goes. If your spouse seems to be keeping financial secrets from you and even gets argumentative when you ask about money, you may want to do some investigation. Another common warning flag is a sudden increase in travel and related expenses supposedly for work.
This information is not intended to provide legal advice but general information about for spouses in New Jersey to help them identify financial signs of a potential divorce.