New Jersey Marital Property Division Attorney

New Jersey Marital Property Division: We Fight for What You Deserve, So You Can Get Where You Want To Be

The dissolution of a marriage and division of its property is never easy.  Tanya L. Freeman, Attorney at Law is experienced in helping analyze marital assets, evaluating business interests and equity positions, and in reviewing the pros and cons of various settlement options.

We work with you, your accountants and financial advisors with sensitivity and discretion. Our goal is to offer advice and guidance geared toward helping you get—or keep—what, by any objective measure, is rightfully yours.

Knowing that your financial situation is likely to be altered by a separation, our team takes a clear, realistic view of your overall outlook from the perspective of ensuring you’re prepared for the road ahead. We look at:

• What combination of assets and income do you need to live the way you want?
• What marital assets are most desirable for your future life in terms of income, appreciation, and taxes for the life you envision?
• What financial support and property division scenarios would be most advantageous for you and your children over the short and long term?

And much more. The strategies and recommendations we develop, as well as the settlements we seek, are customized for you, and designed to help you avoid common financial pitfalls in divorce. Throughout what is often a difficult and emotional time, we help guide you confidently, seeking solutions and resolving problems before they hurt the bottom line.

In New Jersey, if you are going through a divorce or physical separation, you will need to address the issue of marital property division through equitable distribution. Distribution of property can unfortunately be a source of conflict between you and your spouse. Disputes frequently arise as a result of both parties’ claims to the property and assets they believe are legitimately theirs. Regardless of the complexity or size of the marital estate, it is essential that you retain an attorney with the necessary experience to manage any asset and debt distribution matter. Our New Jersey marital property division attorney will safeguard your and your children’s interests throughout the entirety of the divorce proceedings.

If you are concerned about how your marital assets will be split, or there are specific items you want to keep. In that case, it is time to get the help of a New Jersey marital property division attorney. Tanya L. Freeman, Attorney At Law, has an in-depth understanding of how equitable distribution decisions are made. She will be on your side, working to protect your rights and ensure fairness throughout the equitable division process.

Distribution of Marital Wealth in New Jersey

New Jersey is a jurisdiction with equitable distribution. This means that the court divides the marital assets, property, and debts in a fair and equitable manner. Importantly, equitable distribution does not necessarily imply that your assets will be divided equally; however, only an experienced New Jersey marital property division attorney who focuses on equitable distribution can corroborate this.

The final determination of what is equitable and reasonable can be made through a variety of means:

• Direct discussions between you and your spouse
• Discussions between the counsel for both sides
• Mediation
• Arbitration
• Decision made by a judge following a trial

It is essential to remember that the Court can divide the assets and debts of either or both parties, which means that regardless of who “legally” owns the property or is designated as the responsible party on the debt, the Court can assign the asset or debt to either or both spouses.

Even if a credit card debt is solely in your spouse’s name, the court may require both parties to pay it off or assign it entirely to you. This may occur if the court determines that the spouse, despite the card being in his or her sole name, used it to purchase supplies for the entire family.

Even so, the fact that the Court can distribute an asset equitably does not necessarily imply that it will. Courts have broad discretion in determining what is just in any given circumstance.

Community Property vs. Equitable Distribution

In states with community property, all assets are distributed equally. Equitable distribution states, on the other hand, allow the court to divide the assets of the divorcing parties in any manner deemed fair and equitable, which may not be 50/50. Obviously, the procedure is quite complex and subject to a number of statutory and case-specific rules.

Factors Involved in Marital Property Distribution

The equitable distribution statute of New Jersey contains a number of variables that impact the division of your real and personal property. Before a final determination is made this extensive list of statutory considerations is evaluated. These considerations include:

• The length of the marriage
• Age of the involved parties
• Both parties’ physical and emotional health
• Their respective incomes at the time of marriage
• Property brought by both participants to the marriage
• The established standard of living during the marriage
• Prenuptial or Postnuptial Agreements written by the parties before or during the marriage involving the properties
• Economic conditions of both parties
• Monetary means of each spouse
• Academic credentials of both parties
• Employability, work experience, and training
• Length of time away from the workforce
• Responsibility for the children’s care
• Costs associated with acquiring the education or training necessary for the party to maintain a comparable standard of living
• Contribution of each party to the education or earning capacity of the other

A Comprehensive Understanding of Equitable Distribution

It is essential that you have a complete and accurate comprehension of your property division rights pertaining to:

• Home used during the marriage
• Investment real estate property or vacation homes
• Cars or vehicles
• Personal items
• Collector’s items
• Interests in the ownership of a business
• IRA, 401K, and 403B accounts
• Pension schemes
• Plans for deferred compensation
• Profit sharing plans
• Inherited property
• Mortgages
• HELOCs
• Credit card outstanding balances