As an equitable distribution state, New Jersey law holds that the court will determine how property and assets are divided in the event of a divorce. Because so much is at stake during a divorce, you need a property division lawyer who can uphold your best interests throughout this process. No matter how valuable or complex your assets may be, the team at Dunne, Dunne & Cohen, LLC in Hoboken, NJ, can help ensure they are divided in a manner that is fair.
About Property Division
Marital property must be divided before a judge will grant a request for divorce. That leaves divorcing couples with two choices: work together or leave it to the court. Some states are community property states, meaning the court divides all assets 50/50 between spouses. New Jersey is not one of those states. Instead, New Jersey is an equitable distribution state, meaning the court will divide marital property fairly between the spouses, but not necessarily right down the middle. Prior to awarding property to either spouse, the court will categorize the property as marital or separate. If you have separate property, you will need proof of ownership such as receipts or witnesses.
Because so much is at stake during a divorce, you need a property division lawyer who can uphold your best interests throughout this process.
Marital versus Separate Property
With Dunne, Dunne & Cohen in your corner, you can rest assured that we are gathering the evidence necessary to demonstrate which of your assets are subject to division and which ones belong solely to you.
Examples of marital property include:
- Debt owed to a mortgage company or bank
- Vehicles and household furnishings
- Stocks, investments, and bonds
- Partnerships or businesses
Examples of separate property include:
- Inheritance given to one spouse
- Property owned prior to marriage
- Gifts received by one spouse
- Property obtained post-divorce