Newton Family Law Blog

If you live in the Sussex and Warren County area and are in a high-value marriage and thinking about divorce, you do not want to rush and make rash decisions. When there are high-value assets at stake, it is not always easy to settle a divorce. Issues are likely to arise when it is time to decide the division of marital assets, child custody, and alimony and child support. 

You might be feeling many emotions as you struggle to come to terms with the situation. Your feelings can affect your thinking and cause you to make mistakes during the divorce process that could lead to an unfavorable outcome. There is nothing wrong with you feeling angry and confused. Stay calm and consider the following high-value divorce mistakes to avoid. 

Spouses who are getting their finances in order in anticipation of a divorce are likely considering the issue of alimony and child support payments. As both of these can depend a great deal on the spouses' respective incomes, many divorce cases end up including some major disputes about the extent of these incomes.

Frequently, each spouse argues that the other has a higher income than he or she claims. In some situations, the court may decide to impute income. This means the court arrives at an amount it officially considers a normal income level for this spouse.

The moment a child announces they were accepted into college, especially if it’s a prestigious institution or their top choice school, is a moment of joy and pride for parents. To see how your child has succeeded and think about what their future holds is a big moment for you.

Then the panic sets in. How will your child pay for tuition? You may have a college savings account set aside already, but tuition and other hidden costs can get expensive and may be more than you anticipated. Even trickier is determining who will pay the bill when you and the child’s other parent are divorced, if it is not already outlined in your divorce settlement.