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Lifestyle Changes and Financial Status Following a Divorce

Lifestyle Changes and Financial Status Following a Divorce

Tanya: There’s just so much money that can go around. Unless you have a lot of money, you really can’t always live the way you used to after a divorce. People say, “Oh, I’m entitled to the same lifestyle.” I’d say that’s a misconception.

I think that would be a common scenario where, and maybe I’m going to be sexist here, the wife who wasn’t working or wasn’t making as much money says, “Oh, I’m entitled to the same lifestyle.” However, there’s just so much money that we have to work with. The husband needs an apartment or a house also where the children can visit.

So that same $100,000 or $200,000 that was in the household before, now has to pay for two households, two sets of bills and it’s not going to go as far. It’s not possible to really maintain exactly the same lifestyle following a divorce.

Dispelling Sexist Myths about Divorce Settlements

Interviewer: How about the adage where the wife automatically is awarded half the assets or the husband will always have to support the wife? Are those misconceptions?

Will the Wife Automatically Receive Alimony? Not if Her Income Dramatically Exceeds Her Husband’s

Tanya: Oh, absolutely, sexist issues are not recognized in the courtroom. I’ve had cases where the wife making several million dollars a year and the husband makes $50,000 or $75,000 a year. The husband receives alimony or the husband is awarded a large amount of money. That’s one preconceived notion that is just out of date with the times.

New Jersey Is an Equitable Distribution State and the Courts Can Divide Assets at Their Discretion

Regarding assets, New Jersey is what is called an equitable distribution state, which means that the courts have the right and the discretion to divide assets as they deem fair or equitable. Most of the time, if people have been married for a period of time and assets are in joint names, most of those assets will be split 50/50. For assets such as businesses, for example, if the husband has a business acquired during the marriage, but the wife did not participate in the business, it’s very unlikely that she would get 50% of the business. She would receive a smaller percentage, absolutely.

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  • "Without Tanya and her time, the really unpleasant experience of getting divorced would have been even worse. They were able to settle the matter very quickly and helped me fit this into my tight schedule allowing me to leave to move abroad for my dissertation research on time without having to delay the trip because of the divorce. They also did all of it within my very tight budget. Thank you so much for your help and dedication to my legal matter!"  - AG

  • "Tanya and her Associates are outstanding! What I admire most about Tanya is her knowledge of the law with her keen negotiation skills to foster mediation. Her strategies efficiently resolve conflict leading to the resolution of cases. She and her team have an outstanding work ethic, know what data are needed, and get the job done. It is a pleasure to work with such wonderful professionals."  - Tara, Whippany

  • "I found Ms. Helfand's knowledge and tenacity most reassuring during the ordeal of my divorce. She was steadfast in her guidance and was very effective in her negotiations on my behalf. I would recommend her without a second thought. "  -Jonathan

  • "Ms. Helfand was very professional and helpful with our bankruptcy case. Her advice was very useful and helped us make the proper decisions for our situation. In addition, she was very supportive during a very difficult time for us. Finally, she set very specific fee expectations and there were no surprises when it was completed. I would use her services again and would recommend her, without question."

  • "She is Incredible, very quick responding to the other party. Very professional and courteous. I highly recommend her. She has a great passion and love for every single case."

  • "Tanya and her team were very professional handling my divorce proceedings. She was very proactive in making the other attorney finally get the process moving forward. I would recommend her to anyone looking for legal services. "  -Scott

  • "Ms. Helfand strategized & processed, both, my Divorce & Chapter 13 Bankruptcy. As both cases were emotionally and legally challenging, Ms. Helfand proved to be an empowering Mentor along the path to clarity for which I am truly grateful. I highly recommend her legal expertise to anyone who is seeking a confident, savvy & caring attorney to become at peace with self and any legal matters."  -Vas

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