An Equitable Distribution Attorney Can Ensure Your Assets Are Divided Fairly
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
Factors That Can Affect Division of Property
In determining equitable distribution, the court takes into consideration a number of factors:
- How long the marriage lasted
- The contributions each spouse made to acquire marital property
- The standard of living that was enjoyed during the marriage
- The earning capacity and income of each individual
- The economic circumstances of each spouse at the time of distribution
- Written agreements made prior to or during marriage regarding how property will be divided in the event of divorce
- The value of the property designated for each spouse
- Changes in the valuation of separate property during marriage
- Debts and liabilities of each party
- The tax burden for each person in the proposed distribution
Because there is so much on the line and so many factors at play, it is vital that you have an equitable distribution lawyer on your side. The team at Dunne, Dunne & Cohen will work tirelessly on your behalf to ensure you achieve the best outcome possible.
Contact a New Jersey Equitable Distribution Attorney
Divorce is rarely a simple process. Dunne, Dunne & Cohen can ensure your assets are distributed in a manner that is fair. Call one of our three conveniently located offices or schedule a consultation online today to learn more.