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When a couple gets divorced the marital property is divided between the two spouses. This is often the most contentious issue in the dissolution of the marriage. Disagreements over marital assets drive many divorce cases to trial.
If you are facing divorce or physical separation, it is crucial that you obtain representation by an experienced New Jersey divorce lawyer to protect your interests. At the law offices of Aretsky Law Group, P.C., our divorce attorneys are committed to providing effective legal representation in negotiation, mediation, and litigation in divorce court.
Division of property in New Jersey is based upon “equitable distribution,” which means that the property must be divided in an equitable, or fair, manner. It does not mean that it must be shared equally.
If the spouses can reach an agreement as to what each will retain through negotiation or mediation, then the court will likely accept their written property settlement. However, if mediation or direct negotiation between the two cannot resolve the dispute, then the court will intervene.Marital Property
Before equitable distribution can be decided, it is necessary to determine what is marital property and what is owned by only one of the spouses. New Jersey courts assume that all property obtained or earned during the marriage is marital property. This is true even if the title to that property is in the name of one spouse only. Even gifts given to one another during the marriage are included.Separate Property
Some property is excluded from equitable distribution. Exclusions include the following:
The equitable division of property is complicated. There are some situations in which separate property can be considered marital property. A NJ divorce lawyer with a clear understanding of NJ law can help protect your interests.Factors Considered To Determine Equitable Distribution
In making a final determination, the court considers the factors set forth in New Jersey’s equitable distribution statute:
High-asset cases by their very nature include many different types of assets and liabilities:
There are several interrelated issues that people must be considered when reaching an agreement on the division of marital property:
Each of these issues can present challenges, particularly in complex divorce cases involving business holdings and deferred executive compensation packages.Contact Our New Jersey Divorce Attorneys
Our attorneys have extensive experience investigating and negotiating fair property settlement agreements. When it will be helpful, we work with financial experts to help clients understand their assets and make informed decisions regarding marital property distribution.
For legal help with marital property distribution or other issues involved in divorce or the dissolution of a domestic partnership, contact Aretsky Law Group, P.C. Call us 24/7 at 800-537-4154.