Benefits of a New Jersey Property Division Attorney
Dividing up marital assets and debts can be one of the most stressful things you will deal with during a divorce. The outcome of dividing your property may greatly impact your financial future.
Your right to a fair outcome is important, making the benefits of a New Jersey property division attorney important. The property division attorneys at Moskowitz Law Group can help protect you and your future. Call us for more information.
Understanding New Jersey Law
Under New Jersey law, the court divides marital assets according to the laws governing equitable distribution. Equitable distribution requires property to be divided fairly, but not necessarily equally. A property division lawyer understands New Jersey law and can apply them in your case to your advantage.
First, you must differentiate between marital property and non-marital property. Marital property is property that was acquired during the marriage by both spouses or either of the spouses. Non-marital property is generally property that was acquired by one spouse prior to the marriage or received by one spouse during the marriage by gift or inheritance from a third party. Your attorney will help accurately categorize your assets.
The Court determines how to fairly divide marital property using a number of factors governing equitable distribution. These factors include the length of the marriage, each party’s financial circumstances, and each party’s financial and non-financial contributions toward acquiring marital property. Non-financial contributions can include caring for and raising children and managing the household, especially when doing so freed up the other spouse to advance their career and earn income to acquire assets.
Comprehensive Asset Valuation
One of the biggest challenges in dividing marital property is determining an accurate value of each asset. Common marital property requiring proper valuation includes:
- Real estate, including your house and investment properties,which must be properly appraised
- Businesses, which often warrant retaining a forensic accountant to conduct a fair valuation
- Retirement accounts, including pensions, 401(k)s, and individual retirement arrangements, which often require an expert to properly appraise
- Stocks, bonds, cryptocurrency, art collections, investment portfolios, and any other valuable assets
Equitable distribution also requires marital debts to be fairly divided, including credit card debt, car loans, and certain types of loans.
Our property division attorneys can give you an advantage by working with financial experts and appraisers to make sure any assets are not overlooked or improperly valued. We work to accurately inventory and value property to ensure you have a complete understanding of the assets and their value.
Negotiation and Mediation
Most of these cases are resolved through negotiation or mediation instead of going to court. Our attorneys can fight for your best interests in several ways. They can negotiate with your spouse’s lawyer to seek a settlement that protects your future. If informal negotiations are unsuccessful, your attorney can help you choose a mediator and represent you during mediation. If you can reach an agreement with your spouse, your attorney will ensure that the written settlement agreement is properly drafted and fully enforceable.
Litigation Support
If you cannot settle how to divide property out of court, our law firm will be ready to litigate and defend your interests. This means:
- Collecting financial documents, property records, and other relevant evidence to support your case
- Presenting any evidence of your spouse concealing assets
- Preparing and filing all necessary legal paperwork
- Advocating for your position before a judge, presenting evidence, and cross-examining witnesses in court
- Making sure your rights are upheld throughout the litigation process
Without an attorney, you may make costly mistakes when dividing property in your divorce. You may accept settlements based on incorrect valuations or without fully understanding your rights. You may miss assets or fail to realize that your spouse is hiding assets.
Further, dividing property can have tax implications that you should be aware of. Our family law attorneys avoid mistakes and ensure you know your rights.
Gain the Benefit of a New Jersey Asset Division Attorney by Calling Today
Property division in a divorce can be complex, and there are many benefits of a New Jersey property division attorney. From understanding the law and valuing assets to negotiating deals and handling court cases, a skilled attorney from Moskowitz Law Group can protect your property rights throughout the divorce process. Call us today to secure your financial future.
