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Protecting Your Assets in a Divorce

The divorce process involves the unraveling of many issues that became entwined during the course of a marriage. From who gets the house to what happens of the joint bank account and other assets, matters of property division can be some of the most complex, and the most hotly contested, in a divorce. This being the case, working with the right legal representation can make all the difference when it comes to protecting your rights, interests, and fair share.

At Moskowitz Law Group, LLC, our New Jersey divorce lawyers understand that the outcome of dividing assets and debts in a divorce can impact spouses for years to come, which is why we go the extra mile to protect their interests throughout the entirety of the process. Although every case is different, there are a few important components of protecting assets in a divorce. For example, these may include:

  • Financial Record Evaluations – The financial records of both spouses are critically important to the divorce process and division of assets. As such, it becomes necessary for an attorney to meticulously and carefully evaluate all financial records involved, such as bank accounts, investment holdings, retirement or pension accounts, stocks, taxes, and more. Evaluating these financial assets, and finding ways to resolve them in accordance to various regulations can be a challenge for anyone, which is why working with attorneys who have the resources to help is so importance.
  • Thinking money, not assets – Matters of diving property can quickly turn into battles over little details, especially in contested divorce cases where emotional run high. When valuing and dividing property, it is wise to view assets in terms of their monetary value. While this is a way to ensuring division can be effectively resolved, we know there are certain circumstances that may warrant further negotiations, dispute, or even legal action. This includes determining what happens to the family home especially if one spouse wishes to keep the house after divorce.
  • Options for Resolution – While the specific type of asset may be important in situations involving property like a family home, because it has some emotional significance or is simply better for children, resolutions can still be facilitated by thinking about value and how the value of the other spouses share of the asset may be offset through reductions in support payments, awarding of other property, and other options. Exploring options in these scenarios, and when dividing other complex assets such as retirement accounts, businesses, or investments, is critical to ensuring spouses can make informed decisions about issues important to them.
  • Challenging Issues – As with any matter involved in divorce, property division can create exposure to a number of challenges. This not only includes issues of dispute over what should and should not be considered community property (and gathering the evidence to prove an asset is separate property), but also issues involving valuation, and complex cases. For example, divorces involving high net worth or unique assets like stocks, loans and debt, businesses, professional practices, unique collections, and foreign assets demand the insight of attorneys who have both the experience and resources to effectively address them.
  • Finding Hidden Assets – Hiding assets is one of the worst things a person can do in divorce, not only because it can have an adverse impact on final resolutions reached in their case, but also because it can subject them to being held in contempt of court, injunctions, and future lawsuits if any allegations are proven. While hiding assets is never a good idea, that doesn’t mean it doesn’t happen, either through willful and deceitful means or through seemingly minor omissions or errors. In order to protect your fair share in divorce, accounting for all assets requires legal support that can focus on thorough financial evaluations, forensic tracing, and aggressive advocacy for legal remedy.

These are a few of the general ways our divorce attorneys at Moskowitz Law Group, LLC work to protect assets in a divorce, but because every case is unique, how your assets can be protected and resolutions reached will demand personalized attention and tailored legal strategies. To learn more about property division, divorce, and how our firm can help you with a case in New Jersey or New York, contact us for a free review of your case. Our team is available around-the-clock to help!