Advocating for Your Rights and Interests When Dividing Assets in Divorce
Ending a marriage involves resolving many difficult issues, including how property and assets will be divided. You want to be sure your interests are protected.
When you are worried about how your marital assets will be split, or there are particular items that you wish to keep, it is to your benefit to get the help of a divorce lawyer with extensive experience in representing clients in property and asset division determinations. Our Hackensack, NJ, property division lawyer from our firm will be on your side, working to ensure fairness throughout the divvying up process.
Call Men’s & Fathers’ Rights Divorce Lawyers for help at (201) 880-9770.
Why Choose Our Law Firm ?
We know you have choices in New Jersey regarding family law firms. We want you to make the right decision for your situation and offer these reasons why we believe you should consider our team for your case:
- We are highly experienced. Carrie S. Schultz is certified by the Supreme Court of New Jersey as a Matrimonial Law Attorney. She and her attorney team have a combined 50-plus years of experience handling the most complex property division cases, including matters involving high-net-worth divorces.
- We do what we say we will do. We communicate clearly, consistently, and efficiently and have a standing policy of responding to client questions and concerns within 24-48 hours.
- Our award-winning attorneys are highly regarded within the legal community and previous clients think highly of our services as you can see by our attorney reviews. Additionally, we have an A+ rating from the Better Business Bureau.
- We trust, but verify, all information coming in or going out. We do it right or do it over. We explore all options until none are left.
- We will always be honest with you. We will never mislead you about any aspect of your case, even if what we tell you is something you would rather not hear.
We believe that there is the right fit of a lawyer and law firm for every client. We hope you will meet with us so we can learn about your matter, and you can learn if we are the right fit for you.
How Our Property Division Lawyer Can Help You
Our divorce property division attorneys are trained to advocate for your interests during negotiations or in the courtroom, ensuring you receive a fair share of marital assets and debts. We also strive to secure property that holds significant value to you.
Marital debts are also divided during this process, and we will work to make sure they are allocated appropriately between you and your soon-to-be-ex-spouse.
Ensuring You Are Prepared
The more prepared you are going into negotiations or into Court, the better opportunity for a satisfactory outcome. We will guide you in identifying what assets or debts are separate property and what would otherwise be considered marital property, along with assisting you to gather the relevant paperwork to prove same.
Being prepared is key to achieving a satisfactory outcome. We will assist you in identifying separate and marital properties and gather the necessary paperwork to substantiate your claims.
Helping You Determine What is Most Important to You
We will advise you to consider what assets are most important to you to keep, as well as think about what your spouse may want. When you think this through ahead of time, it may help us in negotiating a settlement that is reasonable for both of youExamining Prenups and Postnups
Our lawyers will examine any prenuptial or postnuptial agreements to determine their strength and validity. We will also stand up for your interests in possible challenges to these agreements.
You can rely on our property division attorney in Hackensack to analyze all the factors in your situation and deliver strategic counsel designed to get you the best possible outcome.
How the New Jersey Court Divides Property in Divorce
If you are unable to negotiate a property settlement between yourselves and your attorneys, you may have to go to court for a New Jersey judge to decide for you. . When dividing property in divorce, the court uses the concept of equitable distribution. Even though you may hear the word “equal” in equitable, that does not mean that property will necessarily be divided 50/50 between you and your spouse. Instead, assets will be divided in a way that a judge, deems fair, reasonable, and acceptable based upon your case and in alignment with the New Jersey Statuatory Factors. You could get more than 50%, you could get less than 50%, or you could get 50%. Every divorce, every case, even every asset can be treated differently.
Equitable Distribution in Property Division
The judge will make his or her decisions relative to equitably dividing your property in accordance with several factors, including the following:
- Length of the marriage
- Standard of living during the marriage
- Ages and health of both spouses
- Assets each spouse brought to the marriage
- Economic circumstances of each party at the time of divorce
- Whether there are written agreements concerning property division
- Income and earning capacity of each party
- Contributions by each party to the education or earning power of the other.
This list of factors is not all-inclusive. You can read the complete list of equitable distribution criteria at N.J.S.A 2A:34-23.1
Answers to FAQs from A Property Division Attorney in Hackensack, NJ
You probably have many questions about the property division process when you are worried about what you may or may not get. Here are broad answers to some of the questions we frequently receive from clients.
What is marital property versus separate property?
Before property can be divided, it must be determined whether it is considered martial property or separate property. In general terms, marital property is property (or debts) acquired by one or both spouses during the marriage. Separate property is typically property (or debts) a spouse had before the marriage. Inheritances and gifts from parents or other individuals to a single spouse, and property protected through a prenuptial or postnuptial agreement will need to be discussed further because the context and every detail of the transaction matter to determine whether it would be considered marital or exempt from dividing in a divorce. Marital property is subject to division. Separate property is typically not, absent certain exceptions.
What can I do if I believe my spouse is hiding assets during divorce?
Both spouses are required by law to disclose all their assets in divorce. When a divorcing person hides assets and it is discovered, they may face court-imposed consequences, which could include payment of attorneys fees, or unequal division of the asset. If you believe your spouse is hiding assets, a property division attorney can investigate on your behalf to find out as much of the truth as possible. We may also be able to help you if you are already divorced and discover that your spouse hid assets during property division and then advocate that you should receive a share.
Who gets the house when dividing property?
Who gets the house, or does not get it, depends upon the circumstances. Sometimes spouses sell the house and divide the proceeds. In other situations, a spouse who wants to keep the house, buys the other one out at a fair market value. Sometimes one spouse may negotiate for the house or be awarded the house and the other spouse receives assets of the same or near value. If one spouse owned the house prior to marriage, that spouse may keep it if it is deemed to be separate property.
Do I have to give my spouse part of my business during property division?
If you started the business before marriage and it has increased in value since your marriage, your spouse may be entitled to part of the increased value of your percentage share. This is particularly applicable if you have business partners. If you started it after marriage, you may be able to give your spouse something of equal value in exchange for keeping your business interests. Of course, the first step is even determining if your business has value! A lot of business owns are single member LLCs or sole proprietors, and the value is nominal; it may be more of what you earn from the business instead of what the business, independent of what income it throws off, is worth. Other times, we have to determine the value to the business, as well an income analysis from it. If you have a prenuptial or postnuptial agreement in place that protects your business, you may not have to give your spouse a part of your business. Every situation involving businesses is very case specific. We can provide tailored advice when we learn the circumstances of your case.
For answers related to your specific situation, contact a property division attorney in Hackensack, NJ, directly.
Get Help from an Experienced Property Division Attorney
Dividing up property can be confusing and stressful. It is hard to sort through items and assets you owned together and calmly divvy them between you, or worse, have them divided by a judge who is ultimately nothing more than a stranger. It is difficult to have your soon-to-be-former spouse try to make claims on property that you consider separate and yours alone, or that you gained only due to your sweat and hard work.
With our strong legal team on your side, you stand a better chance of getting a satisfactory outcome. Our knowledgeable property division lawyers have years of experience advocating for divorcing clients during the asset division process.
For strategic legal guidance you can trust, call (201) 880-9770 to arrange a time to speak with a property division attorney at [MFR] Men’s & Fathers’ Rights Divorce Lawyers.